Govt says 10 PSBs transferred NPAs of over Rs. 11,617 crore to NARCL from Jan-Nov 2023

A total of 10 Public Sector Banks (PSBs) have transferred Non-Performing Assets (NPAs) of over Rs 11,617 crore to NARCL between January and November this year, the Finance Ministry said.

Minister of State for Finance Bhagwat Karad said the National Asset Reconstruction Company Ltd (NARCL) has recovered Rs 16.64 crore as on November 30, 2023.

He said recovery in NPA accounts is an ongoing process, and security receipts issued to lenders by NARCL, backed by government guarantee, provide a five-year time window for effecting the recovery in such accounts.