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PSU banks in a race to sell NPAs ahead of new FY

PSU banks in a race to sell NPAs ahead of new FY

Tuesday, March 14, 2017, 1:49 PM

As the end of the financial year is coming closer, banks are accelerating the sale process of their Non-Performing Assets (NPAs). In the new financial year starting on April 1, 2017, the provisional norms regarding NPAs will become stringent. Many other PSU Banks like Karnataka Bank have started selling their NPAs worth up to Rs 20,000 Cr to Asset Reconstruction Companies in March 2017.
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