July 24, 2018 / 11:57 AM / a year ago

India's bank non-performing loans rise to $150.2 bln at end-March

NEW DELHI, July 24 (Reuters) - Bad loans held by India’s banks rose to 10.36 trillion rupees ($150.21 billion) at the end of March, the government said on Tuesday, with state-backed lenders accounting for more than 86 percent of the total non-performing loans.

Twenty one banks majority owned by the Indian government had gross non-performing loans of 8.96 trillion rupees, Finance Minister Piyush Goyal told parliament, citing central bank data for global operations of the lenders.

In a separate response to a question from a lawmaker, junior finance minister Shiv Pratap Shukla said the gross non-performing loan ratio of the state lenders had reached 14.6 percent in the 2017/18 financial year.

At the end of December last year, the banking sector’s total non-performing loans was almost 9 trillion rupees, according to previously released government data. ($1 = 68.9375 Indian rupees) (Reporting by Devidutta Tripathy; Editing by Amrutha Gayathri)

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