For the first time, state-owned banks have registered a credit growth lower than their private sector peers. While public sector bank’s gross advances increased by a mere 4% from Rs 49.17 lakh crore as on March 2015 to Rs 51.16 lakh crore by the end of March 2016, the growth was 25% for the private banks. Gross NPAs increased from Rs 2.67 lakh crore -- 5.43% of gross advances in March 2015 to Rs 4.76 crore, which is 9.32% at the end of March 2016. “NPAs have increased for public sector banks. The cumulative loss posted by the state-owned banks is Rs 18,000 crore on account of provisioning of NPAs.

Source: Hindustan Times June 08, 2016 07:57 UTC