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RTI data reveals that non-performing assets of Indian Bank and Bank of Baroda has surged multiple times in the recent years. The NPAs of BOB has increased almost six times and the total amount is now estimated to Rs 73,140 crores. The Indian bank has also registered a whooping four-fold increase in non-performing assets. Indian bank has a total NPA of Rs 32,561.26 crores. The above figures of both the banks are on the basis of the past six year’s comparison.
Both Bank of Baroda and Indian Bank are government run banks. The RTI reply also shows a sharp increase in the number of non-performing accounts from 2,08,035 in 31st March 2014 to about more than 6 lakh accounts in 2019 end, over a 4 lakh increase in about five years in Bank of Baroda. The currently high Non-performing assets worth Rs 32,561.26 of the Indian bank has inclined from a low 8,068.05 crores in the end of 2013-14 financial year. The Indian Bank also show a sharp increase in the number of NPA accounts from less than 2.5 lakhs in 2014 to a very high 5,64,816 in the end of financial year 2019-2020.
The RTI document also provides with additional information on how these banks earned increased revenue from utility support services as well as charges like minimum balance charges, SMS alert charges and locker charges etc. the RTI application whioch gave away these data was filed by a Rajasthan based activist.
