Government completed NPA recovery of Rs 1,23,299 crore in FY23-24, says Finance Minister Nirmala Sitharaman

Speaking about non-performing asset (NPA) cases in India, finance minister Nirmala Sitharaman said in Parliament on Monday that the central government has completed the recovery of Rs 1,23,299 crore from NPAs during the financial year 2023-24.

She said that in 2002-23, as much as Rs 1,59,787 crore had been recovered from NPAs.

The gross NPA as on March 31, 2024, for State Bank of India (SBI) was Rs 84,276 crore, while for Punjab National Bank (PNB), it was Rs 56,343 crore. 

Meanwhile, at Rs 18,317 crore, PNB tops the list of the banks with the highest loan written off by scheduled commercial banks in FY 23-24.

Union Bank of India stands second in the same list with written-off loans worth Rs 18,264 crore.

SBI wrote off loans of Rs 16,161 crore in the same period.