Tag: non-performing assets

RBI governor Urjit Patel says problem of NPAs was earlier also but it is only recently issue was being recognized. New Delhi: RBI Governor Urjit Patel today attributed the banks grappling with high bad loans to legacy issues saying they are mostly on account of credit facility provided for long-gestation projects before 2011-12. He further said the problem of non-performing assets (NPAs) was earlier also but it is only recently that the issue is being recognized. Patel said that sectors in which bad loans have emerged over the years pertain to long-gestation projects, which were mostly funded before 2011-12. “Therefore, …by definition, this proportionate amount is a legacy issue, although the recognition and reporting of these have taken place only recently,” the RBI Govern...