Bank of Baroda, Indian Bank’s NPAs soar multi-fold in 6 years: RTI data
3 May, 2020 | newsx bureau
In a Right To Information (RTI) filed by a Kota-based activist, Sujeet Swami reveals the current NPA account condition of two national banks--Bank of Baroda and Indian Bank.
According to Right to Information data, India’s third-largest public sector bank–Bank of Baroda’s Non- Performing Assets (NPA) has now increased to more than six-fold to Rs 73,140 crore in six years. In the report, the NPA’s condition of the Indian Bank was also mentioned, where it surged four-times to Rs 32,561.26 crore in the same years.
Calculating the NPA’s of Bank of Baroda (BoB)– At the March-end, 2014 the NPA was about Rs 11,876 crore which has now staggeringly jumped to Rs 73,140 crore at December-end 2019. RTI report reveals that from March 31, 2014 to December 2019, the NPA account in BoB has soared from 2,08,035 to 6,17,306.
While Indian Bank’s NPA surged from 8,068.05 to Rs 32,561.26 crores. Within 6 years as of March 31, 2014, to March 31, 2020, the NPA account rose to 5,64,816 comparing to 2,48,921. A Kota-based activist Sujeet Swami filed the RTI to know the current condition and NPA’s of Bank of Baroda and Indian Bank.
Given the current #COVID19 situation, we know how difficult times can get for Bank Mitras. To support their courage and determination #BankofBaroda is offering special welfare package which can assist them during such times. #staysafebanksafe pic.twitter.com/PvY26norpY
— Bank of Baroda (@bankofbaroda) April 24, 2020
Reserve Bank of India cancels the licence of The CKP Co-operative Bank Ltd., Mumbai #rbitoday https://t.co/BstRUz4S5p
— ReserveBankOfIndia (@RBI) May 2, 2020
According to RTI reply, it also disclosed that these banks earn a massive amount of money through SMS alert service fees, minimum balance charges, outward, inward, ledger follow charges, locker charges, debit-credit cards service charges, and from others services.
RTI Community Helpline – Initiative by RTI INDIA https://t.co/zdx3yJjvLS via @rtiindia
— RTI INDIA- Online RTI (@rtiindia) April 30, 2020
It said, from April 1, 2018, to February 29, 2020, Bank of Baroda earned Rs 107.7 crore from a single service of SMS alert. Indian Bank collected Rs 21 crore from it during the same period.
It is time to change the way we exchange money. Yes, we need to go digital in order to stay safe! And we at Indian Bank are here to empower you with our digital channels. Bank online, India! #stayhomestaysafe #IndianBank #TwiceAsGood #IBWithYou pic.twitter.com/4ot3CFkGrz
— Indian Bank (@MyIndianBank) May 1, 2020
Sujeet Swami said, he filed the RTI to know the in-depth NPA’s condition of these two national banks between 2014 to 2020. He further said, in the query, the State Bank of India and Punjab National Bank were also mentioned but the data is yet to provide.
Governor @DasShaktikanta interview #rbitoday #rbigovernor
— ReserveBankOfIndia (@RBI) April 27, 2020