Gross non-performing assets (NPAs) of 40 listed banks shot up by 35.2% or Rs 633.86 billion for the nine months ended December 2013 to cross the Rs 2.4 trillion mark. This jump of 35.2% was much higher than the 27% rise witnessed in the first six months of financial year 2013-14, according to a study done by NPAsource.com.
 
Ten out of the 40 listed banks accounted for nearly 70% of the total gross NPAs of Rs 2.43 trillion according to the NPAsource.com study. The State Bank of India at 28% and Rs 677.99 billion has the largest share in the total gross NPAs of the 40 listed banks as per the table given above. Next is Punjab National Bank with 7% share at Rs 165.96 billion of gross NPAs, followed by Bank of Baroda and Central Bank of India with 5% share each.

As of Dec. 31, 2013, Bank of Maharashtra posted the largest increase in gross NPAs of 209% at Rs 3.516 billion from Rs 11.38 billion as of Mar. 31, 2013. The United Bank reported a 188% jump in gross NPAs at Rs 85.46 billion at end of Q3. Eleven banks posted a 50% plus growth in their gross NPAs for the nine months ending Dec. 31, 2013.

DK Jain, chairman & MD of Atishya Group, the owner of portal NPAsource.com said, "There is no respite for banks in India from the onslaught of higher interest rates and slowdown in the Indian economy leading to further increase in loans turning bad from corporate as well as retail segments. The fourth quarter of 2013-14 will continue to be bad for banks on the NPAs front, but most banks will resort to higher levels of provisioning so as to bring down their net NPA levels. The first quarter of next financial year too will continue to be bad for banks with regard to NPAs. The high concentration of banks’ debt to the top 50-100 corporates is also a major concern area. A clearer picture about the future of the Indian economy will emerge post the central elections due in May."

(Rs billion)