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450% Rise in Bad Loans Witnessed by Private Banks in the Last 5 Years
May 28, 2018
According to a report by The India Express, top private banks like the Yes bank, HDFC, Kotak Mahindra, DCB, IndusInd, Axis, ICICI,AU Small Finance and RBL has seen around 450% hike in gross NPAs. The statistical data claims a that bad loans has risen from Rs 19,800 crore at the end of 2013-14 to a Rs 109,076 crore figure by the end of the financial year 2017-18. The banks claim this to be due to the revision circular from RBI stating that the defaults must be considered right from the day one and banks must not wait till the 90th day of default to find a resolution.
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