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Managing Non Performing Assets in Indian Banking Industry |
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INTRODUCTION |
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| In July 2019, Nirmala Sitharaman (Sitharaman), Union Finance Minister of India, stated that the bad loans in the Indian banking industry had gone down in FY19 compared to FY18. The Gross Non-Performing Assets (GNPAs) had decreased from Rs. 10.5 trillion in FY18 to Rs. 9.24 trillion in FY19. Similarly, Non-Performing Assets (NPAs) had also come down from Rs. 5.27 trillion in FY18 to Rs. 3.52 trillion in FY19. Experts stated that various factors such as bad loan write-offs by banks, change in the credit culture, prohibiting willful defaulters from raising funds from the market, and enactment of the Insolvency and Bankruptcy Code (IBC) in 2016 by the Reserve Bank of India (RBI) and the Government of India (GoI) had resulted in the reduction in GNPAs and NPAs...
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