NITI Aaayog has not moved any proposal to create a bad bank to hold stresses and NPAs: Gangwar

New Delhi, Nov 23 (KNN) NITI Aaayog has not moved any proposal to create a bad bank to hold the stresses and non-productive assets and loan recovery of banks, Santosh Kumar Gangwar, Minister of State in the Ministry of Finance has said.

In a written reply in the Parliament, Gangwar said, “Main reasons for increase in NPAs of banks are slowdown in recovery in the global economy and continuing uncertainty in the global markets leading to lower exports of various products like textiles, engineering goods, leather, gems, etc.”

Gangwar added that the PSB’s continue to be under stress on account of aggressive lending in the past.

The Gross Non-Performing Assets (GNPA)+ Restructured Advances Ration in the Financial Year 2016 was at 11.45%, which was 10.89% in FY 2015 and 9.98% in FY 2014. (KNN Bureau)