Indian public sector banks’ NPAs rise to 2.31%

Non-performing assets (NPAs) of government-run banks rose to 2.31 per cent as on March 31, 2011, as compared to 2.27 per cent in the previous year, led by a sharp increase in the bad loans of the State Bank group, Minister of State for Finance Namo Narain Meena said Tuesday.Total non-performing assets, loans on which interest payments or repayments are not being made on time, of the public sector banks rose to Rs71,047 crore by the end of 2010-11.For the State Bank of India, the country’s largest lender, non-performing assets rose to 3.48 per cent of its gross advances in the year under review from 3.28 per cent in the previous year. From / Gulf Today