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RBI asks banks to redouble recovery efforts

August 11, 2023

RBI asks banks to redouble recovery efforts

Reserve Bank Deputy Governor Swaminathan J on Thursday asked banks to double down on recovery efforts to limit the losses from the write-off of loans, saying it will help them post higher profits.

The career commercial banker who recently joined the regulator also added that a bank’s ability to recover or a borrower’s liability to repay does not diminish with a loan write-off and recoveries can help a lender post higher profits.

Earlier this week, the government informed Parliament that over Rs 14.56 lakh crore of advances were written-off by banks since FY15.

“We would like the banks to redouble their efforts because these are accounts that are parked in a special account and we would like to see more and more recoveries,” Swaminathan told reporters at the central bank headquarters here.

Stating that there is a need to get the “context right” in this matter, he offered some nuances and stressed that there is a need to be “guarded” in “passing judgements”.

The DG said an NPA account, which is over 4-5 years old will typically have witnessed a diminishing of the realizable value of the securities and one has to look at the age of the NPA and the availability or absence of underlying security.

Important Links:

4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/

Tags:

BanknpasRBI

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