SCBs see a sharp drop in NPA ratio, falling to 2.67% in June 2024 from 11.18% in March 2018: Finance Ministry
scheduled commercial banks (SCBs) witnessed a significant reduction to 2.67 percent in June 2024 from 11.18 percent in March 2018, the Finance Ministry stated on Saturday.
The ministry further added in a social media post on X that the asset quality has improved significantly while the provisional coverage ratio (PCR) has also increased from 49.31 percent in March 2015 to a healthy 92.52 percent in June, showing an increased resilience.
NPA is a loan that has not generated income or interest on the principal amount for the banks for a specified period of time. If the borrower has not made interest or principal payments for at least 90 days, the principal amount will be categorised as the NPA.
On the other hand, the provision coverage ratio (PCR) is the percentage or amount of the fund that a bank has kept aside to cover losses from the bad debts.
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