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Spectre of default credit pain may tail banks next year too

News and Press Release - Dated:- 30-12-2016 - New Delhi, Dec 30 (PTI) The struggle on bad loans that soared to menacing proportion in 2016 would continue in the new year as many more industrial units, especially in the MSME sector, may turn defaulters due to the cash shortage following demonetisation. The withdrawal of high-value cash will also hit the bottom line of banks that have been busy exchanging old notes and issuing valid currency at the cost of credit growth and loan recovery. The bank .....

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e increase in gross non-performing assets (NPAs) in the three months ended September 2016. Their gross NPAs rose to ₹ 6,30,323 crore as against ₹ 5,50,346 crore by June-end. Mindful of an NPA surge in the aftermath of the cash recall, RBI has provided additional 60 days for repayment of housing, car, farm and other loans worth up to ₹ 1 crore. However, bankers feel that NPAs will move up at the end of the fourth quarter when the impact of the notes ban takes hold. As far as wil .....

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