The total provisions during the year (of which the most would be for NPAs) increased from Rs 43,611 crore to Rs 105,150 crore — an increase of a whopping 141%, the report further stated.
Non-performing assets of 26 banks that have declared their earnings so far have risen to Rs 7.31 lakh crore, a rise of Rs 2.5 lakh crore this year compared to March 2017, CARE Ratings said in a report.
The total provisions during the year (of which the most would be for NPAs) increased to Rs 105,150 crore from Rs 43,611 crore, an increase of 141 percent, the report further stated.
Gross NPAs, it said, has risen to its peak at 10.14 percent in March 2018.
On a segmental basis, for public sector banks, NPA rates rose to 13.41 percent after being stable in the range of 11-12 percent in the first quarter of last fiscal.
“For private banks too, NPAs have spiked in March 2018 after moderating in December 2017 relative to September 2017,” analysts at the firm wrote in their report.
Results are awaited for other banks, which include Bank of Baroda, Bank of India, IDBI Bank, Corporation Bank, IOB, United Bank, Andhra Bank in the PSB group and City Union, Dhanlaxmi Bank, Karur Vysya, Laxmi Vilas and J&K in the private sector.