NEWS & ADVICE : HOME LOANS
Public sector banks yet to recover loans worth Rs 68000 crore
By Joseph Samson
Mar 18, 2013
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According to official sources, Public sector banks are yet to recover loan worth over Rs 68000 crore from over 7000 individuals or companies.

Around 7295 individual borrowers or companies, who borrowed loans of Rs 1 crore and above, had an outstanding of Rs 68,262 crore from around 27 public sector banks as of March, 2012.

Out of this, the highest outstanding amount of Rs 23,320 crore by 2419 borrowers is due to State Bank of India (SBI).

According to the sources, Punjab National Bank needs to recover Rs 5295 crore from 709 borrowers, Central Bank of India- Rs 4349 crore from 222 borrowers, Bank of India- Rs 4268 crore fro 507 borrowers and IDBI Bank- Rs 3682 crore from 579 borrowers.

"The government has advised PSBs to take a number of new initiatives to increase the pace of recovery and manage NPAs (Non-Performing Assets), which include appointment of nodal officers for recovery, conducting special drives for recovery of loss assets, to put in place warning system," sources said.


 


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