PSBs reported fraud of INR95,700cr during April-September. PSU banks witness a dip in bad loans in Q2 FY20.
Piling Up: Public sector banks (PSBs) reported 5,743 incidents of fraud amounting to over INR95,700cr in the first six months of the current financial year, reported Finance Minister Nirmala Sitharaman.
Something's Fishy: ICICI Bank reported 374 instances of fraud, followed by Kotak Mahindra Bank (338), HDFC Bank (273), State Bank of India (236) and HSBC (178). BS
Times Are A Changing: Public sector undertaking (PSU) banks saw a dip in bad loans in Q2 FY20, even as private-sector lenders posted a rise in the number of bad loans.
The bad loans for government banks fell by c. INR80,000cr during the 12-month period ended September 2019, CARE Ratings said. NPAs fell from INR9,92,964cr in Q2 FY19 to INR9,18,487cr in September 2019 on the back of considerable narrowing in loan slippages and increase in recoveries. Financial Express
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