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Gross Non-Performing Assets (NPA) of all banks may increase from 8.5 percent in March 2020 to 12.5 percent by the end of the fiscal year, the 21st issue of the Financial Stability Report revealed on Friday, 24 July, reported PTI.
Earlier, at an event organised by the National Council of Applied Economic Research (NCAER), RBI Governor Raghuram Rajan had said the level of NPAs would be unprecedented in six months’ time, if these were recognised at their true level.
According to ANI, the report also said that an amalgamation of fiscal, monetary and regulatory interventions, taken in response to the COVID-19 crisis, have ensured normal functioning of financial markets.
The RBI further said:
(With inputs from PTI, ANI.)
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