Rajeev Chandrasekhar's official website - Member of Parliament

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

DEPARTMENT OF FINANCIAL SERVICES

RAJYA SABHA

UNSTARRED QUESTION NO: 967

TO BE ANSWERED ON THE 12th FEBRUARY, 2019/MAGHA 23, 1940 (SAKA)

 

QUESTION

Improvement in credit culture of PSBs

 

  1. SHRI RAJEEV CHANDRASEKHAR:

 

Will the Minister of FINANCE be pleased to state:

 

  1. whether there has been any improvement in credit culture of Public Sector Banks (PSBs) after implementation of Insolvency and Bankruptcy Code (IBC); and
  2. the details of total amount of NPAs recovered in Public Sector Banks after implementation of IBC, Bank-wise?

 

ANSWER

To be answered by

THE MINISTER OF STATE IN THE MINISTRY OF FINANCE

(SHRI SHIV PRATAP SHUKLA)

(a) and (b): With the coming into effect of the provisions related to Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC) on 1.12.2016, there has been significant improvement in credit culture across the financial sector, including in Public Sector Banks (PSBs). IBC has provided for taking over of the management of the affairs of the corporate debtor at the outset of the CIRP. Coupled with debarment of wilful defaulters and persons associated with NPA accounts from CIRP, this has effected a fundamental change in the creditor-debtor relationship for a clean and robust resolution ecosystem and strengthening credit discipline. While IBC has facilitated and expedited the process of resolution, in order to avoid insolvency proceedings in NCLT, debtors have also started timely repayment, and have settled loans that had become overdue even outside CIRP/IBC.

Subsequent to the provisions relating to CIRP under IBC coming into effect, as per Reserve Bank of India data on global operations, PSBs have recovered (including recovery in written-off accounts) an aggregate amount of Rs. 1,93,231 crore during the period from 1.1.2017 to 31.12.2018 (provisional data), including record recovery of Rs. 97,151 crore in the first three quarters of the current financial year. Bank-wise details are at Annex.

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Annex

   Lok Sabha Unstarred Question no.  967, for 12.2.2019

Recovery by Public Sector Banks from 1.1.2017 to 31.12.2018

 

Amounts in crore Rs.

S. No. Bank Amount recovered

(from 1.1.2017 to 31.12.2018)
1. Allahabad Bank                4,493
2. Andhra Bank                4,261
3. Bank of Baroda              13,333
4. Bank of India              22,720
5. Bank of Maharashtra                4,035
6. Canara Bank                8,952
7. Central Bank of India                7,296
8. Corporation Bank                2,774
9. Dena Bank                4,322
10. IDBI Bank Limited              13,709
11. Indian Bank                2,355
12. Indian Overseas Bank                8,808
13. Oriental Bank of Commerce                6,757
14. Punjab & Sind Bank                1,295
15. Punjab National Bank              18,312
16. Syndicate Bank                6,502
17. UCO Bank                5,305
18. Union Bank of India                6,702
19. United Bank of India                3,089
20. Vijaya Bank                2,300
21. State Bank of India*              45,910
Total 1,93,231

        Source: RBI (provisional data as on 31.12.2018)

*Including its Associate Banks and Bhartiya Mahila Bank for the period from 1.1.2017 to 31.3.2017, preceding their merger with State Bank of India

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