NEW DELHI: The slowdown in economic growth has hit the performance of Indian banks, resulting in a sharp increase in bad loans, finance minister P Chidambaram said Thursday, adding that the government would soon infuse capital into the lenders.
"NPA (non perfoming assets) has increased. This is the reflection of the slowdown in the economy, and reflection of some sectors which are under stress," Chidambaram said at a press conference after meeting heads of public sector banks and financial institutions.
Chidambaram said non-performing assets (NPAs), or bad loans, of the public sector banks increased by 0.98% at the end of the second quarter of the current financial year from the level of September-end 2011.
"NPA (non perfoming assets) has increased. This is the reflection of the slowdown in the economy, and reflection of some sectors which are under stress," Chidambaram said at a press conference after meeting heads of public sector banks and financial institutions.
Chidambaram said non-performing assets (NPAs), or bad loans, of the public sector banks increased by 0.98% at the end of the second quarter of the current financial year from the level of September-end 2011.
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