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Top 30 Defaulters' NPAs Amount to Rs 95,122 crore in PSU Banks

Published: 18th March 2015 06:10 AM  |   Last Updated: 18th March 2015 06:10 AM   |  A+A-

NEW DELHI: The top 30 defaulters account for more than one-third or 36.5 per cent of the entire non-performing assets (NPAs) of public sector banks (PSBs) aggregating to Rs 95,122 crore as on December 2014.

Jayant Sinha, Minister of State for Finance, said this in a written reply to the Rajya Sabha on Tuesday, and also revealed in a separate note that the gross NPAs of PSBs stood at Rs 2,60,531 crore as on December 2014.

As per RBI data, the total number of NPA borrowers having Rs 10 crore and above as on September 2014 stood at 2,897 with outstanding amount of Rs 1,60,164 crore. Likewise, 7,443 cases of credit cards have been detected with financial consideration of Rs 29 crore, while ATM or debit card related cases stood at 1,743 involving Rs 11 crore during April-December, 2014.

According to Sinha, the RBI’s working group on ‘Information Security, Electronic Banking Technology Risk Management and Tracking Cyber Fraud,’ set up in April 2010, had examined various issues arising out of the use of IT in banks and made its recommendations.

He added that banks with extensive leverage of technology to support business processes were advised to implement all the stipulations outlined in the circular. The guidelines are fundamentally expected to enhance safety, security, efficiency in the banking processes leading to benefits for the banks and their customers.

Top management of the banks was advised to monitor the progress in the implementation of the recommendations on an ongoing basis and a review of the implementation status was advised to be placed before the board at quarterly intervals, he added.

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