Analysis: NPA of banks increases due to lack of loan recovery; Government in the mood of taking action against 'guilty' bank officials
Saturday - December 29, 2018 10:59 am ,
Category : WTN SPECIAL
Acton to be taken against 6,049 bank employees-officials in loan forgery
The bank's GNPA increased 11.2 percent in the financial year 2017-18; Bank officials to be punished for 'misleading'
DEC 29 (WTN) - You may have noticed that from time to time, the questions have been rising on loans given by the banks which are unable to recover. The allegation seems to be that the employees and officials of the bank misled and distributed such loans, which resulted in a heavy loan on the banks. But now the Central Government is trying to dupe such bank employees and officials who have been responsible for it.
According to the information, for the loans that were not recovered in the financial year 2017-18, the Central Government has pointed responsible about 6 thousand employees of the government banks. According to Finance Minister Arun Jaitley, action is being taken against such employees and officers. The Central Government has made it clear that more than 6000 employees of nationalized banks will be charged against those who have caused a heavy loan on the banks due to their misleading. It is being said that different types of punitive measures are being taken against such bank officials.
According to Finance Minister Jaitley, small and big penalties have been imposed on the employees and officials attributed to them, including dismissal, compulsory retirement and demotion. After all this, it is clear that there are employees and officials of the bank involved somewhere in the absence of loan recovery of banks. It is important, therefore, that the government should show strict vigil so that it can be reinforced in the future.
According to information received from the media, as per input received from national banks, 6,049 employees and officers in the financial year 2017-18 are responsible for lack of staff in NPA accounts. Finance Minister Arun Jaitley says that the stricter steps will be depended on the mistake of the employees and in all cases the complaint will be lodged to the CBI and the police.
For your information, let you know that out of 19 national banks, Punjab National Bank and Canara Bank have reported a loss of Rs 21,388 crore in the treasury. During the financial year 2017-18, the bank has also suffered a joint loss of Rs 6,861 crore. The government has cleared that in the first 6 months of the financial year, the public sector banks have recorded record revenues of Rs 60,713 crore. It is two times as compared to the amount recovered during this period.
Let you know that GNPA of banks has reached 11.2% or 10,390 crore rupees in the financial year 2017-18. A year ago, the banking system's GNPA was at 9.3 percent. According to the figures released by the Reserve Bank of India, during this period, GNPA of public sector banks in total GNPA was Rs 8,950 crore. In this way GNPA was equal to 14.6% of their gross loan in government banks. The gross NPAs of the banking system were 9.3 percent in the financial year 2016-17. The gross NPAs of public sector banks were 11.7 percent.
In the past financial year, the share of GNPA of the major accounts of public sector banks (loans of five crore rupees or more) increased to 23.1 percent, from 18.1 percent in the previous financial year. In the past financial year, the total NPAs of gems and jewelry sector increased. The main reason for this is scam of the Punjab National Bank of Rs 14,000 crore. The main accused of this scam is diamond and jewelry trader Neerav Modi and his maternal uncle Mahul Choksi.
DEC 29 (WTN) - You may have noticed that from time to time, the questions have been rising on loans given by the banks which are unable to recover. The allegation seems to be that the employees and officials of the bank misled and distributed such loans, which resulted in a heavy loan on the banks. But now the Central Government is trying to dupe such bank employees and officials who have been responsible for it.
According to the information, for the loans that were not recovered in the financial year 2017-18, the Central Government has pointed responsible about 6 thousand employees of the government banks. According to Finance Minister Arun Jaitley, action is being taken against such employees and officers. The Central Government has made it clear that more than 6000 employees of nationalized banks will be charged against those who have caused a heavy loan on the banks due to their misleading. It is being said that different types of punitive measures are being taken against such bank officials.
According to Finance Minister Jaitley, small and big penalties have been imposed on the employees and officials attributed to them, including dismissal, compulsory retirement and demotion. After all this, it is clear that there are employees and officials of the bank involved somewhere in the absence of loan recovery of banks. It is important, therefore, that the government should show strict vigil so that it can be reinforced in the future.
According to information received from the media, as per input received from national banks, 6,049 employees and officers in the financial year 2017-18 are responsible for lack of staff in NPA accounts. Finance Minister Arun Jaitley says that the stricter steps will be depended on the mistake of the employees and in all cases the complaint will be lodged to the CBI and the police.
For your information, let you know that out of 19 national banks, Punjab National Bank and Canara Bank have reported a loss of Rs 21,388 crore in the treasury. During the financial year 2017-18, the bank has also suffered a joint loss of Rs 6,861 crore. The government has cleared that in the first 6 months of the financial year, the public sector banks have recorded record revenues of Rs 60,713 crore. It is two times as compared to the amount recovered during this period.
Let you know that GNPA of banks has reached 11.2% or 10,390 crore rupees in the financial year 2017-18. A year ago, the banking system's GNPA was at 9.3 percent. According to the figures released by the Reserve Bank of India, during this period, GNPA of public sector banks in total GNPA was Rs 8,950 crore. In this way GNPA was equal to 14.6% of their gross loan in government banks. The gross NPAs of the banking system were 9.3 percent in the financial year 2016-17. The gross NPAs of public sector banks were 11.7 percent.
In the past financial year, the share of GNPA of the major accounts of public sector banks (loans of five crore rupees or more) increased to 23.1 percent, from 18.1 percent in the previous financial year. In the past financial year, the total NPAs of gems and jewelry sector increased. The main reason for this is scam of the Punjab National Bank of Rs 14,000 crore. The main accused of this scam is diamond and jewelry trader Neerav Modi and his maternal uncle Mahul Choksi.
