Rajeev Chandrasekhar's official website - Member of Parliament

 

GOVERNMENT OF INDIA
Ministry of Finance
DEPARTMENT OF FINANCIAL SERVICES

 RAJYA SABHA
UNSTARRED QUESTION NO. 58
TO BE ANSWERED ON NOVEMBER 22, 2012 / AGRAHAYANA 1, 1934 (SAKA) 

QUESTION
Losses Incurred by Small Industries Development Bank of India (SIDBI)

 

58. SHRI RAJEEV CHANDRASEKHAR:

 Will the Minister of FINANCE be pleased to state;

 (a)   whether it is a fact the Small Industries Development Bank of India (SIDBI) is incurring losses  due to non recovery of loans;

(b)   if so, details of the number of defaulters, with amount of loss thereof, for the last three years; and

(c)    the action that has been taken against the defaulters?

ANSWER
MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI NAMO NARAIN MEENA)

(a) No. SIDBI is not a loss making financial institution. In FY2012, the Bank had made net profit of Rs. 566.85 crore.

(b) & (c): Details of number of defaulters / Gross NPA under Direct and Indirect Assistance for the last three years are as under:

 

Year

Direct Finance

Indirect Finance

Total

 

 

FY 2010

No. of NPA cases

Amount (Rs. Crore)

No. of NPA cases

Amount (Rs. Crore)

No. of NPA cases

Amount (Rs. Crore)

189

77

Nil

Nil

189

77

FY 2011

149

148

4

131

153

279

FY 2012

293

249

2

125

295

374

In such cases SIDBI takes various recovery measures, such as, One Time Settlement, Recovery process in Debt Recovery Tribunal, etc, on a case to case basis, for resolution of NPA accounts under Direct Assistance and where assets are available, action under SARFAESI Act, 2002 is also taken.

Bank is also taking necessary pre-emptive action by monitoring the stressed cases to avoid slippages into NPA category and wherever necessary, consider need based reschedulement/restructuring as per the guidelines.

Special Recovery Meets are organized with a view to have detailed discussions with individual burrowers.

In respect of SFCs, regular follow up for recovery under OTS/restructuring packages with the State Government/Corporation concerned is continuing. At the same time DRT/Court cases are also being pursued.