With loans running over Rs 6 lakh cr, PAC to examine bank NPAs

Monday, Jul 20, 2015,21:09 IST By metrovaartha A A A

Thiruvananthapuram | The non-performing assets (NPAs) accumulated by nationalised and scheduled banks, that stand at over Rs six lakh crore, would be examined by the Public Accounts Committee of the Parliament, PAC Chairman K V Thomas said today.
The Non-Performing Assets of nationalised and scheduled banks stand at Rs 6 lakh crore. It is for the first time that the PAC is taking up the matter, Thomas, a former Union Minister, told a ‘Meet-The-Press’ programme organised by the press club here. Corporate sector accounted for 54 per cent of the total NPA of Rs 6 lakh crore, he said and added that according to the banks, mostly the loans given for infrastructure development were adding to the NPAs.
Asked when the report was expected to be tabled, he said the Committee normally submitted its report within three months after a subject was taken up. The PAC had suo moto initiated the NPA issue following a recent report of Comptroller and Auditor General (CAG) on the IDBI Bank.
On the 2G spectrum issue being examined by the PAC, Thomas said Even though I was part of the previous UPA government, I will examine the matter in an impartial manner.
Predicting a stormy Monsoon session of the Parliament, which is to start tomorrow, he said the NDA government’s new policies, especially with regard to Land bill and Food security, were a cause of concern. The Congress leader during the meet also expressed apprehensions about the growth of BJP in Kerala.