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Noida: Gautam Buddh Nagar district banks have declared outstanding loans worth ?3,549 crore as non-performing assets (NPA). A bank classifies a loan as an NPA when the beneficiary fails to repay after 90 days. According to official figures, 25,141 loan accounts were declared NPA. A majority of these accounts were of micro, small and medium entrepreneurs.
Noida: Gautam Buddh Nagar district banks have declared outstanding loans worth ?3,549 crore as non-performing assets (NPA). A bank classifies a loan as an NPA when the beneficiary fails to repay after 90 days. According to official figures, 25,141 loan accounts were declared NPA. A majority of these accounts were of micro, small and medium entrepreneurs.
Not only that, due to lack of proper equilibrium between the deposits and advances, the credit-debit ratio (CDR) of the banks in the district, has gone down to 56.15%, which is less than the ‘healthy’ CDR of 60%. GB Nagar district lead bank manager (LBM) Ved Ratna said, “Recovery of NPA is never an easy task for banks as most of these loans come under litigation at later stage.” The LBM said banks have already initiated the recovery process of these ‘bad’ loans. “At first, they will start the recovery of these defaulted loans without recourse to judicial process, under which the banks will issue notices to debtors and ask them to make payments of dues on their heads. If the borrower is cooperative, their assets charged to banks will be sold by private negotiations or by auction. If they do not co-operate, the banks will take legal course and the loans will be recovered through legal process by the orders of the courts,” he said.
About the CDR of the banks, the LDM said that while the deposits in different banks of the district have been recorded ?1,08,474 crore, the advances given to the customers have gone down to ?60,926 crore. “It is mainly due to heavy push of deposits into government accounts, which has caused imbalance between deposits and finance. The government has deposited heavy funds of over ?4,000 crore in its bank accounts as many upcoming projects like Jewar airport and Smart City will come up soon. On the other hand, we don’t have as many entrepreneurs here, who seek funds from the banks. As a result, the CDR has gone down,” he said.
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