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Oct 20, 2012, 05.47 PM IST
In this quarter, Indian Bank posted rise in NPAs and worsening of asset quality, However, the management is confident that the bank is geared up to make more cash recoveries and going forward the NPAs will reduce.
TM Bhasin, CMD, Indian Bank, says that gross NPA as on March 31 2012 was 2.03 percent and net NPA was 1.33 percent. We have been able to maintain the asset quality at 2.06 percent gross and 1.33percent net. In the first half, cash recovery of Rs 353 crore has been made. The bank is fully geared up to make more and more cash recoveries and up gradations. Going down the line the gross NPA should be less than 2 percent and net NPA should be less than 1.3 percent.
The restructured amount for power loans stands to around Rs Rs 2,300 crore in our balance sheet. The loans have been restructures at better rates and our rate of interest on these has gone up from 11.50 percentto 12.75 percent. These loans are further guaranteed by the concerned state government. So, there is no concern on this. This quarter restructured book has not gone up very significantly.
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