NPA on rise, soon PIL on its way

NPA rise in India
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NPA (Non Performing Assets) are on a rise in the country, the figures are huge, and fearsome, and with every passing year it has increased.

By Varun Singh

NPA (Non Performing Assets), are rising. The figures if compared of only top 10 banks then it has grown four folds between 2003-14 to 2014-18.

The figures available from an RTI filed by Prafful Sarda, a civic rights activist, are huge and disappointing. He had filed the RTI with RBI.

Sarda now has decided to file a Public Interest Litigation (PIL) against the former Finance Ministers, RBI governors, current FM and even current governors.

According to the RTI figures, between 2003-04-2013-14, top 10 banks had an NPA figure of Rs 2.44 lakh crore.

The same figure between 20014-15 till December 2018 has grown to Rs 7.33 lakh crore.

Here are the figures, from 2003 to 2014 of top 10 NPA banks (all in crore) (Source: RBI)
1) SBI – RS.197750
2) ICICI – RS. 75848
3) PNB – Rs. 50537
4) Central Bank of India – Rs. 36218
5) Bank of India – RS. 36612
6) bank of Baroda : RS.30133
7) Union Bank of India Rs.29801
8) UCO bank RS.24433
9) Indian overseas RS. 23288
10) canara bank Rs.27227

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From 2014-15 till 31 Dec 2018 (all in crore) (Source: RBI)
1) SBI – RS. 609431
2) PNB – RS. 310949
3) bank of India – RS. 218198
4) Bank of Baroda – RS 185855
5) IDBI – RS.174790
6) canara bank – Rs.167408
7) Union Bank of India – RS. 170366
8) Indian overseas bank – RS. 151538
9) Central Bank of India – RS. 146809
10) ICICI bank RS. 139663

The figures are self explanatory on the rise in the NPAs in the country. What happens when NPAs rise, we have enough case studies in front of us, including that of Vijay Mallya, Nirav Modi, Mehul Choksi and others.

Prafful Sarda, Civic Rights Activist
Prafful Sarda, Civic Rights Activist who has decided to file a PIL on NPA issue.

Sarda says, “RBI has given a free hand to all the banks to frame their loan policies leading huge rise in NPA during UPA and NDA regime. Ultimately it’s common man who is paying the cost for this.”

He further added, “Soon I shall be filing PIL against former finance minister, RBI governer and current FM and RBI governer for not keeping strict eyes on rising NPA numbers year after years.”

Also Read: Nirav Modi’x luxury car, watches on auction

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