Patel said an asset quality review for the NBFCs is ‘inevitable’ given their interconnectedness in financial system.
PSBs witnessed improvement during 2018-19 and the gross NPA ratio decreased from 11.5 per cent to 10.1 per cent.
As per data from RBI, gross loans and advances in state-run banks came in at 638.2 bn rupees, as of March 31, 2019.
The amount involved in such frauds in 2017-18 and 2018-19 stood at Rs 9,866 crore and Rs 6,735 crore
NPA in the banking system had peaked at 11.5 per cent in March 2018 and then declined to 9.3 per cent in March 2019.