ICAI plans report on how to reduce NPAs for PSU banks

The Institute of Chartered Accountants of India on Friday said that it was preparing a report suggesting how public sector banks could reduce non-performing assets. "We are planning to compile a report on banking that will focus on how to reduce NPAs by PSU banks," ICAI chairman (committee on banking) Sumantra Guha said. He said the study was expected to be completed by this December and would be submitted to the Reserve Bank of India. He said that as on March 2015, the stressed assets as of advances were at 11 per cent, down two per cent from 2013-14 fiscal. Stessed assets comprises non-performing and restructured loans. Meanwhile, ICAI regional chairman (east) Pramod Dayal Rungta said the institute was negotiating with various state government departments on how they could render their services for the benefit of public at large.