H.Ps Kangra Central Cooperative bank NPA reaches Rs 1103.20 Crore, Govt claims recovery of Rs 44.70 Cr
Shimla, Dec 21
The Himachal Pradesh Government informed on Thursday that the Non-Performing Assets (NPA) of the public-sector Kangra Central Cooperative Bank had reached Rs 1103.20 Crore by November 31, 2023.
This information was disclosed by Chief Minister Sukhvinder Singh Sukhu, who also holds the Finance portfolio, while responding to a query raised by Congress member Rajinder Rana during the question hour.
The Chief Minister stated that the NPA had increased to Rs 1147.90 Cr by the end of March 31, 2023. He further mentioned that the government successfully recovered Rs 44.70 Cr from April 1, 2023, to November 31, 2023, and efforts are ongoing to recover from significant defaulters.
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He emphasized that the government intends to discourage the practice of lending large amounts without proper scrutiny but stressed the importance of adhering to RBI guidelines when approving substantial loans. Members urged the government to ensure that the collateral of the borrower is attached to mitigate NPAs in accordance with RBI guidelines.
The Chief Minister also highlighted that the bank’s performance is improving, citing a net profit of 47.77 Crore and a gross profit of 171.40 Cr in the last financial year. He noted that the bank had recorded a net profit of Rs 40.35 Cr in the previous fiscal year 2021-22.
Additionally, the Chief Minister provided information that the KCC bank possesses capital assets amounting to Rs 16274.98 Cr as of March 31, 2023. He clarified that the NPA figures are system-generated and not manual.
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