INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Bad loans held by India's banks rose to 10.36 trillion rupees ($150.21 billion) at the end of March, the government said on
Tuesday, with state-backed lenders accounting for more than 86 percent of the total non-performing loans.
Twenty one banks majority owned by
the Indian government had gross non-performing loans of 8.96 trillion rupees, Finance Minister Piyush Goyal told parliament, citing central
bank data for global operations of the lenders.
In a separate response to a question from a lawmaker, junior finance minister Shiv Pratap
Shukla said the gross non-performing loan ratio of the state lenders had reached 14.6 percent in the 2017/18 financial year.
At the end of
December last year, the banking sector's total non-performing loans was almost 9 trillion rupees, according to previously released
