- Tag results for NPAs
The state-run bank has made recoveries worth Rs 16,600 crore from bad loans this fiscal year.
As per the analysis, the difference in bad loan reporting also resulted in a variation in provisioning among banks and profits.
Indian banks are staring at fresh provisions on account of just two large loan accounts — Infrastructure Leasing & Financial Services Ltd and Jet Airways.
Based on past data, only two PSBs have NPA ratio of less than 10 per cent — Vijaya Bank (5.86 %) and SBI (9.95 %) — while remaining banks have higher ratios, IDBI the highest at 32 %.
If not in this board meeting, sources said, the issue of relaxation of PCA framework which the finance ministry has been pitching for would be reached in the next few weeks.
The bank saw a total business growth of 14.28 per cent which amounted to a profit of around four lakh crores.
Karur Vysya Bank had posted a net profit of Rs 75.65 crore in the corresponding July-September period of the preceding fiscal ended March 2017.
He also talked about the pedagogy built around the centre-state relationships and the unfinished agenda of India's important economic reforms and added that mere tinkering will not do.
P. Chidambaram said despite government's claims of taking steps to boost exports, the export credit had declined sharply to Rs 22,300 crore in June from Rs 39,000 crore in the same month in 2017.
Noting that system has been singularly ineffective in bringing even a single high profile fraudster to book, Rajan said, frauds are different from normal non-performing assets.
Read the complete transcript of Raghuram Rajan's note to Parliamentary Estimates Committee on banking NPAs.
The senior Congress leader also questioned why the present dispensation did not recall those loans, given by the previous government, which turned bad.
Modi targeted the Congress’ ‘phone banking’ culture whereby the party high command would dial PSU bank chiefs to facilitate loans to corporates of their choice.
Stock of SBI was trading 5.2 per cent up at Rs 257.85 on BSE in afternoon trade.
Last month, the Parliamentary Standing Committee on Finance met finance ministry officials to respond to queries on recent bank frauds and mounting NPAs.