Banks' NPA is on the decline says Chidambram

New Delhi, Dec 15: Despite increase in the outstanding gross advances of public sector banks (PSUs) from Rs 5,78,000 crores in March 2003 to Rs Rs 11,35,000 crore, their gross Non-Performing Assets (NPAs) have come down from Rs 54,090 crore (9.4 per cent of gross advances) to Rs 42,106 crore (3.7 per cent) over the same period, Finance Minister P Chidambaram informed the Lok Sabha today.

This reduction has been possible due to concerted action taken by these banks under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests Act, Corporate Debt Restructuring and compromise settlment schemes, he said, in reply to a question.

UNI