​Public sector banks (PSBs) posted a net loss of Rs 17,993 crore in the last fiscal, showed a government data today.According to the data presented in Lok Sabha by Minister of State for Finance, Santosh Gangwar, in reply to a query, the 28 public sector banks reported a collective net loss of Rs 17,993 crore in 2015-16. 

Of them, 14 banks registered net loss in their books for 2015-16, while the remaining logged profits. 
The high level of non-performing assets (NPAs) and rules by RBI to make higher provisioning for sub-standard assets were the main reasons for the banks to register big losses.However, banks have now taken many corrective measures for loan recovery and are supposed to return to profits in next few quarters. 

Government has revised performance indicators for banks which are basically built on improving efficiency and capital utilisation.

http://m.economictimes.com/industry/banking/finance/banking/public-sector-banks-post-net-loss-of-rs-17993-crore-in-last-fiscal-mos-finance/articleshow/55752624.cms

Advertisements