(MENAFN- KNN India) MSME sector's Non Performing Assets rises by 27%: SLBC report
New Delhi, Apr 3 (KNN) Micro, Small and Medium Enterprises (MSMEs) are suffering from the pressure of bad loans, saidthe State Level Bankers Committee Report.
The report indicates that MSMEs Non Performing Assets (NPA's) stood at Rs 6,838 crore in the December quarter of 2017-18 which is 27% higher than the last fiscal year.
Total advances by banks was Rs 92,299 crore in the December quarter of 2017-18 as compared to Rs 79,816 crore in the third quarter of 2016-17.
NPAs in the December quarter of FY 2017-18 accounted for 7.4% of total advances while it was 6.73% for December quarter of FY 2016-17.
While, total advances have gone up by 16%, NPAs increased by nearly double the rate.
Deposits have remained stagnant, registering marginal growth of less than 1% from Rs 6.31 lakh crore in the December quarter of FY 2016-17 to Rs 6.34 lakh crore in the December quarter of FY 2017-18.
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