Question : COMPROMISE SETTLEMENT OF NPAS

(a) whether Reserve Bank of India has recently revised guidelines for settlement of Non-performing Assets upto Rs. 10 crore;

(b) if so, the details thereof;

(c) whether One Time Settlement Scheme for outstanding NPAs has also been extended;

(d) the number of defaulters, bank-wise who have responded to the compromise settlement scheme as on March 3, 2003; and

(e) the total amount recovered under the scheme, bank-wise, as on March 31, 2003 and its percentage to the total outstanding NPAs of the public sector banks?

THE MINISTER OF STATE IN THE MINISTRY OF FINANCE AND COMPANY AFFAIRS {SHRI ANANDRAO VITHOBA ADSUL):

(a) to (c) Yes, Sir. Reserve Bank of India (RBI) has recently issued guidelines for one time settlement (OTS) for non-performing assets (NPAs) upto Rs. 10 crore. A copy of the guidelines is statement I.

(d) and (e) The bank-wise details of public sector banks relating to Net NPAs, number of NPAs account eligible for settlement under the OTS scheme, applications received and amount recovered as on 31st March, 2003 is at statement II. Percentage of recoveries made under OTS Scheme as on 31.03.2003 as compared to total Net NPAs of the public sector banks is 0.57%.