Twenty percent of banks' bad assets decline: FICCI-IBA survey

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Mumbai, Ta. August 14, 2019, Wednesday

Most banks are seeing a decline in bed assets, especially in areas where banks have previously seen high levels of non-performing assets (NPAs), according to a survey conducted jointly by FICCI and the Indian Bank Association.

The Ninth Survey Report of FICCI-IBA states that the percentage of banks that reported a decline in NPAs, which was 5% earlier, has increased to 5%. Of the public sector banks that participated in the survey, 8% said that the NPA level had declined.

Banks have been watching the NPAs for the past six months in areas such as engineering, infrastructure and iron ore and steel where they are more likely to have bad assets.

In the last 6 months, about 8% of banks have seen a decline in the NPA ratio in the infrastructure sector. In addition, 5 percent of banks reported lower NPA ratio in the engineering sector. For the iron and steel sector, the ratio is 5%.

In the current year, the Reserve Bank has reduced the repo rate by 5 basis points till June, but banks have only benefited consumers by reducing the basis point by 5 basis points.

During the period from February to June of this year, 5 percent of banks have reduced the MCLR by up to 5 basis points. In the case of term deposits of more than one year, 5 percent of banks have declared a reduction in interest rates by up to 5 basis points while 5 percent of banks have not made any change in rates.


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