GNPA of Scheduled Commercial Banks may increase to 9.80% by March 2022: Govt.
Sakshi Education
The Government said, Gross Non-performing Asset, GNPA, of Scheduled Commercial Banks, SCBs, may increase to 9.80 percent by March 2022. As per the Financial Stability Report, FSR, the GNPA was 7.48 percent in March 2021. He also said, actual movement of GNPAs will depend on the benefit of policy interventions availed by the borrowers which, in turn, facilitates revival of accounts under stress.
GNPA of Scheduled Commercial Banks may increase to 9.80% by March 2022: Govt.
Under Emergency Credit Line Guarantee Scheme, ECLGS, loans worth 2.97 lakh crore rupees have been sanctioned till 26th of last month. 15th of last month, the Public Sector Banks have restructured 9.8 lakh MSME accounts of 58 thousand 524 crore rupees and 8.5 lakh loan accounts of individual borrowers amounting to 60 thousand 662 crore rupees.
Till the end of last month, over 30 lakh beneficiaries have accessed Three thousand 54 crore rupees under PM SVANidhi scheme for street vendors. Similarly, the Public Sector Banks have also sanctioned One lakh 84 thousand crore rupees to over One Crore loan accounts under covid emergency relief schemes.
