Under reporting of NPAs of Rs 12,000 crore by SBI in FY 2018-19

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New delhi date. December 10, 2019, Tuesday

The State Bank of India (SBI), the country's largest public sector bank, under-reported non-performing assets (NPAs) last fiscal. According to the RBI Assessment, SBI's gross NPA of Rs 5,6 crore was seen in the financial year 1-3, while the bank declared Rs. Thus, a regulatory filing by the bank stated that the total NPA under-reporting of NPAs was Rs.

Similarly, the net NPA figure was seen at Rs 5 crore while SBI showed Rs 5 crore, which shows diversion of Rs 5 crore.

As a result, the bank will have to make an additional provision of Rs 5 crore in its balance sheet and the national loss will be Rs 5 crore. In the financial results released in May for the financial year 1-3, SBI showed a profit of Rs 1 crore for the year. After the resultant slippage or upgrade in the current financial year, gross NPA will be affected by Rs 3 crore in the third quarter of the current fiscal year and the figure for net NPA will be Rs 2 crore, SBI said.

In the third quarter, the bank will have to make an additional provision of Rs 5 crore. The Reserve Bank recently issued a circular, making it compulsory for banks to disclose the diversion of bad loans within one day of the date of this information.

In recent months, banks have seen a number of incidents of under-reporting of bad loans, which have forced the Reserve Bank to take regulatory action.

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