(a) the value of non-performing assets in rupee in the Nationalised Banks/ Financial Institutions in the country as en November 30, 2004, bank-wise;
(b) the present position of recovery of outstanding amount of loans of Banks & financial institutions., Bank-wise, financial Institution-wise;
(c) the amount written off against profit amounts during the last three years; and
(d) the steps taken by the Government for recovery of outstanding amount?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI S.S. PALANIMAMCKAM)
(a),(bj & (c) The non-performing assets and recoveries (other than write offs) and write offs by public
sector banks as on 30th September 2004 (latest available) is at Annexure I. The bank-wise details regarding
total amount written off during the last three years is at Annexure II. Information regarding financial
institutions is being collected and will be laid on the Table of the House to the extent available.
(d) Government of India and Reserve Bank of India have advised the banks and financial institutions to take
several steps for recovery of dues on continuous basis. These include evolving and implementation of recovery
policy by banks, filing of suits in civil courts, filing cases with Debt Recovery Tribunals (DRTs), compromise
settlement through Settlement Advisory Committees, Lok Adalats and monitoring and follow up of NPAs at various
levels. Credit Information Bureau has also been set up to disseminate information on borrowers among the banks.
Corporate Debt Restructuring (CDR) scheme has been put in place to provide a transparent mechanism for restructuring
of corporate debts of viable entities facing problems due to internal and external factors. A company viz., `Asset
Reconstruction Company (India Ltd.)` has been incorporated under the Companies Act, 1956 for the purpose of addressing
Non-performing Assets. `The Securitization & Reconstruction of Financial Assets and Enforcement of Security Interest
Act, 2002` has been enacted- to facilitate foreclosures and enforcement of - securities in cases of default, in order
to enable the banks and financial institutions to realize their dues.
RBI had also issued revised guidelines for comprorruse settlement of chronic NPAs of Public Sector Banks on
29 January, 2003. These guidelines were to cover all NPAs in all sectors irrespective of the nature of
business, which have become doubtful or losses on 31 March 2000 with outstanding balance of Rs. 10 crores and below.