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Surge in the non-performing assets (NPAs) of Public Sector banks for the year 2008-09

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Sources available at www.propertykhazana.com say that there is a minimal rise in the gross amount of NPAs of Public Sector banks (PSBs) from Rs. 39,749 crores for the year ended 31st March 2008 in comparison to Rs. 43,376 crores for the year ended 31st March 2009. The Public sector Banks have to take some initiative to restrain the Gross NPAs within reasonable confines and as such the government was taking steps so that achievements of Gross NPS which are set by Public sector banks are met. As per sources available at www.propertykhazana.com the above statement was made in Rajya Sabha by the Minister of Finance.
The statement also states further that there was a slump in the Gross NPA to Gross Advances Ratio from 2.3% to 2.08% and 1.08% to 0.99%, during March 2008 and 2009. For further details refer www.propertykhazana.com.
Source: NBTVLIVE

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