Losses of the State owned banks widened nearly 3.5 times in Jul to Sep

The cumulative losses of the State-owned banks widened nearly three-and-a-half times to Rs.14,716.2 crore in the July-September quarter of the current fiscal. This loss is due to the mounting of bad loans.
Arjun Manjunadha

Updated: Nov 19,2018 12:34:36 pm

Losses of the State owned banks widened nearly 3.5 times in Jul to Sep

19 November 2018 Current Affairs:

The cumulative losses of the State-owned banks widened nearly three-and-a-half times to Rs.14,716.2 crore in the July-September quarter of the current fiscal. This loss is due to the mounting of bad loans. 21 public sector banks had posted a net loss of Rs.4,284.45 crore in the September quarter of 2017-18.  The balance sheets of these PSU lenders has been impacted due to the higher provisioning towards bad loans.
The Centre and the Reserve Bank of India (RBI) have been taking steps to help the debt-ridden public sector banks to improve their performance. The government on its part has been infusing capital in these banks and RBI has tightened monitoring.

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