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CONTIFY MONEY | Uploaded on Thu, 10 Mar 2011 | Published on Thu, 10 Mar 2011
New Delhi, March 10: Foreign Banks operating in India is curbing advances as their non-performing assets (NPA) increased to new high during the current financial year. As per Reserve Bank of India statistics the NPA of foreign bank as percentage of total advances increased to 4.26% in 2010, where as in case of public sector bank it was 2.27% and private sector bank it was 2.97%.
It indicates that foreign banks were little careless in their lending while the public and private sectors counterparts adopted cautious approach during the recovery phase. RBI statistics further shows that during 2005-10 period the gross NPAs as a percentage of total advances in case of public sector bank came down to 2.27% in 2010 from 5.73% of 2005. In case private sector player they reduced it to 2.97% from 3.84% in the same period.
In case of foreign banks the trend was opposite. Their NPA rose form 3.06% in 2005 to 4.26% in 2010. For whole banking sector it came down from 5.18% in 2005 to 2.50% in 2010.
Foreign banks registered decline in total advance in 2010 to Rs 1,67,439 crore compared to Rs 1,69,714 crore in 2009. Where as in case of public sector bank it rose by 19.75% to Rs 25,19,331 crore and private sector players reported 12.5% growth in advances to Rs 5,84,591 crore.
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