Non-Performing Assets of Banks at Multi-Year Low, Profits Up: Finance Minister

Union Finance Minister Nirmala Sitharaman Speaks in the Rajya Sabha During the Budget Session of the Parliament in New Delhi on March 26, 2025 | Photo Credit: Sansad tv via ani | Photo Credit: Ani

The Rajya Sabha on Wednsday (March 26, 2025) Passed The Banking Regulation Bill that Amends Several Provisions of about five acts in the sector. Terming the bill unique, union finance minister nirmala sitharaman said in her reply that 19 sections of these acts would be impacted by the amendments. MS. Sitharaman said this was part of the measures taken by the NDA Government Since 2014 to address the crisis in the country’s banking sector.

MS. Sitharaman said in the statement of objects and reasons of the bill that the new legislation would improve governance standard, provide consistency in reporting in reporting by banks to the reserve bank of Indian Protection for Depositors and Investors, Improve Audit Quality in Public Sector Banks, Bring Customer Convenience in Respect of Nominations and Provide for Increase for Increase in the Tenure of the Directors in Co-Apertor Banks.

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“The Gross Non-Performing Assets [NPAs] of the Scheduled Commercial Banks WERE at a Multi-Year Low of 2.5% in September 2024 as a result of these efforts, “MS. Sitharaman Said, Adding that PUBLIC SECTOR BANKS HADCHS of ₹ 1.41 Lakh Crore in the Previous Financial Year. “The government is committed to taking stringent action Defaulters to Escape to Foreign Countries.

Debt waver

On the demand for debt waver, sheid the narendra modi government did not believe in December in Farmers and The Kisan Samman Nidhi Helped The Farmers and Alleged that the Congress’s’ Helped any farmer as they remained as announsements.

She Said 68 Lakh Street vendors had been supported by PM Svanidhi Loan Scheme. About 50 Crore Loans Had Been Sanctioned under the PM Mudra Scheme under the policy of security the unsecured and funding the unfunded. The finance minister said 98% of the 6,01,328 Villages in the country had a bank or a post office with banking facilities. She said in the 10 years 3.9 Lakh posts in Public Sector Banks Were Filled.

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Earlier, during the debate, the opposition members criticized the center’s approach towards wilful defaulters. Senior congress mp shaktisinh gohil alleged that the center has written off ₹ 87,000 Crore by 50 wilful defaulters Till 2024. Defaulters Said.

Trinamool Congress’s Saket Gokhale Said The Country’s Banks WEN CRUSHED Under The Burden of Non-Performing Assets. “In just the last five years, Indian banks have a staggering ₹ 10 lakh Crore in Npas,” He Said, Adding That Banks Had Now Been Told to Write Off These NPAS. “These npas are taken off the balance sheets of banks, it does not mean they are repaid. It just means that they are taken off to make the balance sheet look