As many as 1,463 entities account for bad loans of Rs100 crore or more in 21 public sector banks (PSBs), finance ministry data showed.
In State Bank of India (SBI) alone, 265 accounts had bad loans of more than Rs100 crore each, totalling Rs77,538 crore, at the end of the September quarter.
Among the nationalised banks, Punjab National Bank topped the chart with 143 non-performing asset (NPA) accounts carrying over Rs100 crore each. They collectively owed the Delhi-headquartered bank Rs45,973 crore.
PNB was followed by Canara Bank with maximum number of accounts with NPAs of more than Rs100 crore.
Among smaller PSU lenders, Union Bank of India had 79 such accounts, Oriental Bank of Commerce 68 and UCO Bank 62, the finance ministry data revealed.
Gross NPAs of state-owned banks stood at Rs7.34 triillion by the end of second quarter this fiscal. The RBI has issued directions to certain banks for referring 12 accounts, with fund and non-fund based outstanding amount greater than Rs5,000 crore and with 60% or more classified as non-performing as of 31 March 2016, to initiate insolvency process under the Insolvency and Bankruptcy Code, 2016.
Rising NPAs have curtailed the lending capacity of state-owned banks as they have make extra provisions for bad loans. In order to strengthen them, the government has come out with a Rs2.12 triillion recapitalisation plan and has already taken nod of Parliament to pump in Rs80,000 crore through recapitalisation bonds in the current fiscal ending March 2018.
Source- Livemint
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