During the last five years (2018-22) when the old NPAs were artificially brought down, new NPAs of Rs 20 lakh crores have been added. Year after year in this period, the number of new NPAs added was far higher than the numbers written off or recovered from the Gross NPAs (https://www.deccanherald.com/opinion/the-sordid-story-of-npas-1238038.html)In other words, The NPA problem has certainly not abated. 91 coal blocks and 115 other mineral blocks have been allotted to private promoters, several among whom may have already become heavily indebted. Should not the RBI, as the banking regulator, step in urgently, stand up to assert its regulatory authority and reverse the tide of the NPA crisis? What is at stake at this moment are the valuable mineral resources that belong to the people and the financial resources that belong to the depositors.

Source: Economic Times November 03, 2023 11:34 UTC