New Delhi:
The government has said that banks have put the non-performing properties (NPAs) or not paid in the last 10 financial years in the last 10 financial years. In response to a question in the Lok Sabha, Union Finance Minister Nirmala Sitharaman said that during the financial year 2018-19, the maximum number of Rs 2,36,265 crore NPAs were inserted into the account. At the same time, NPAs worth Rs 58,786 crore were put in the account in 2014-15. This is the lowest in the last 10 years.
What has Finance Minister told Parliament
The Finance Minister said that during the year 2023-24, banks put the loans not paid for Rs 1,70,270 crore into the account. It is less than Rs 2,16,324 crore for the previous financial year. The Minister said that the Minister of India (RBI) said that the banks of the Reserve Bank of India (RBI) and the board approved by the board of the banks, the banks (NPAs) will be given in the bank Are. These include those NPAs whose provision has been made on completion of four years. He said that by putting it into a box in this way, the leeway of the debt holders does not get a discount and hence the debt holder does not benefit from it.
He said that banks continue the recovery actions initiated against the borrowers under various recovery mechanisms available with them, such as filing suit in civil courts or loan collection tribunals, taking action under the securities and reconstruction of financial assets and the securities interest enforcement Act. Apart from this, these include filing cases in the National Company Law Tribunal under the Insolvency and Recordment Code.
How many ways do banks have for recovery
The minister said that according to RBI data, till 31 December 2024, scheduled commercial banks consisted of 29 specific borrower companies, which have been classified as NPAs. Each of them owes Rs 1,000 crore and above. The total dues in these accounts are Rs 61,027 crore.
Regarding the recovery of the amount payable from the debt holders, banks call the debtors and send emails/letters regarding the payment of the dues. At the same time, banks can also contact the National Company Law Tribunal to start the bankruptcy solution process in the case of bank corporate debtors.
Eighth Pay Commission Formation
In response to another question, Sitharaman said that the government has decided to set up the 8th Central Pay Commission. He said that the financial implication of the recommendations of the 8th Central Pay Commission will be known when the recommendations will be made by this Pay Commission and they will be accepted by the government.
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