INSUBCONTINENT EXCLUSIVE:
An RBI report says gross NPAs of banks may rise up to 12.5 per cent till March 2021The impact of the COVID-19 pandemic is likely to push up
the gross non-performing assets in the Indian banking system to at least 12.5 per cent by March 2021, from 8.5 per cent in March 2020, a
report from the Financial Stability and Development Council said on Friday."It may escalate to 14.7 per cent under a very severely stressed
scenario," the council's Financial Stability Report released by the Reserve Bank of India said
Governor Shaktikanta Das, in his foreword to the report, highlighted the uncertainty to economic growth, but said once the post-pandemic
phase was reached the focus would be on calibrated unwinding of regulatory and other dispensations."The challenges that lie ahead have to be
addressed with the overarching objective of preserving long-term stability of the financial system, which is critical for nurturing the
recovery," he added.(This story has not been edited by TheIndianSubcontinent staff and is auto-generated from a syndicated feed.)
