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NPAs of 40 listed banks rise 35% to over Rs2.4 lakh crore in Q3

According to NPAsource.com, almost 11 banks out of 40 posted a 50% plus growth in their gross NPAs during the nine months that ended on 31 December 2013

Gross non-performing assets (NPAs) or bad loans of 40 listed banks increased 35.2% or by Rs63,386 crore to over Rs2.4 lakh crore during the December 2013 quarter. This jump of 35.2% was much higher than the 27% witnessed during the first six months of financial year 2013-14, says NPAsource.com.

 

According to a study conducted by the portal, 10 out of the 40 listed banks accounted for nearly 70% of the total gross NPAs of Rs2.43 lakh crore. State Bank of India (SBI) at 28% or Rs67,799 crore has the largest share in the total gross NPAs of the 40 listed banks, followed by Punjab National Bank (PNB) with 7% share at Rs16,596 crore. Bank of Baroda and Central Bank of India, both have 5% share each in the NPAs.

 

As of 31 December 2013, Bank of Maharashtra posted the largest increase in gross NPAs of 209% to Rs3,516 crore from Rs1,138 crore as on March 2013.  United Bank of India also reported a 188% jump in its gross NPAs at Rs8,546 crore at end of December quarter. Almost 11 banks posted a 50% plus growth in their gross NPAs for the nine months ending 31 December 2013, NPAsource.com said.
 


"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," said Devendra K Jain, chairman and managing director of Atishya Group that owns NPAsource.com.

 

The growth in net NPAs at 49% for the nine months ended 31 December 2013 as against a 38% rise in the first six months of 2013-14 is also alarming. Net NPAs have gone up to Rs1.38 lakh crore as of December end from Rs93,116 crore at end of March 2013.

 

"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,” Jain added.

 

NPAsource.com said gross NPAs of listed banks have doubled since September 2011; while net NPAs have risen by 2.4 times or 140% during the same period.

 

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Supreme Court grants life term to death convicts in Rajiv Gandhi case

Rejecting the Centre’s view, the apex court commuted the death sentence of three convicts – Santhan, Murugan and Perarivalan – to imprisonment for life, subject to remission by the government

The Supreme Court on Tuesday commuted death sentence of three condemned prisoners in the Rajiv Gandhi assassination case to life imprisonment on the ground of 11 years delay in deciding their mercy plea by the Centre.

 

A bench headed by Chief Justice P Sathasivam rejected the Centre’s submission that there was no unreasonable delay in deciding their mercy plea and the condemned prisoners did not go through an agonising experience as they were enjoying life behind the bars.

 

The bench, also comprising Justices Ranjan Gogoi and SK Singh, said they are unable to accept the Centre’s view and commuted the death sentence of convicts – Santhan, Murugan and Perarivalan – to imprisonment for life subject to remission by the Government.

 

It asked the Centre to give timely advice to the President so that mercy petitions can be decided without unreasonable delay.

 

“We implore the Government to render advice in reasonable time to the President,” the bench said, adding that “the executive should exercise its power one way or other in reasonable time”.

 

It said the Government should handle the cases of mercy petitions in a more systematised manner.

 

“We are confident that mercy plea can be decided at much faster speed than what is being done now,” the bench said.

 

Rajiv Gandhi was killed in May 1991. His assassins were convicted by a TADA court in January 1998 and were awarded death sentence, which was confirmed by the apex court on 11 May 1999.

 

The bench had reserved its verdict on 4th February on the petition of the three convicts for commutation of their death sentence to life imprisonment on ground of delay in deciding their mercy plea.

 

Their plea was strongly opposed by the Centre, which had said that it was not a fit case for the apex court to commute death sentence on the ground of delay in deciding mercy plea.

 

Admitting that there has been delay in deciding the mercy petitions, the Government, however, had contended that the delay was not unreasonable, unexplainable and unconscionable to commute the death penalty.

 

The convicts’ counsel had contested the Centre’s arguments, saying they have suffered due to the delay and the apex court should intervene and commute their death sentence to life term.

 

The convicts had submitted that mercy plea of other condemned prisoners, which were filed after them, were decided but their petitions were kept pending by the government.

 

The apex court had in May 2012 decided to adjudicate the petitions of Rajiv Gandhi killers against their death penalty and had directed that their plea, pending with the Madras High Court, be sent to it.

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COMMENTS

Simple Indian

3 years ago

In my view, the very provision of mercy pleas to be decided by the President of India is a travesty of justice. When the Supreme Court, as the highest Court of the country awards the death sentence in the 'rarest of rare' cases and considers all social, psychological, and circumstantial evidence and all aspects in such cases, the verdict should be upheld in law. The only recourse for death row convicts should be a revision petition in the SC, to be decided by a 5-member SC judge panel. Letting the President decide on mercy pleas is opening the SC verdicts to political manipulations, which is undesirable and certainly not respectful of the judiciary. We have known that most Presidents dither on deciding on mercy pleas one way or the other, purely on political grounds. Even the MHA which forwards such pleas to the President, does so only for select death-row convicts, again for political considerations. With the Constitution not even providing the timeline or reasons for the President to decide on mercy pleas, this provision has been left to gross misuse & abuse, as is seen in this case, and in many such cases in the past. Even Ajmal Kasab was finally executed in secrecy, after much dithering and expenses of over Rs. 50 crores, for political reasons. Law will take its own course is just a meaningless cliche's statement parroted by our politicians and the powers-that-be.

Simple Indian

3 years ago

In my view, the very provision of mercy pleas to be decided by the President of India is a travesty of justice. When the Supreme Court, as the highest Court of the country awards the death sentence in the 'rarest of rare' cases and considers all social, psychological, and circumstantial evidence and all aspects in such cases, the verdict should be upheld in law. The only recourse for death row convicts should be a revision petition in the SC, to be decided by a 5-member SC judge panel. Letting the President decide on mercy pleas is opening the SC verdicts to political manipulations, which is undesirable and certainly not respectful of the judiciary. We have known that most Presidents dither on deciding on mercy pleas one way or the other, purely on political grounds. Even the MHA which forwards such pleas to the President, does so only for select death-row convicts, again for political considerations. With the Constitution not even providing the timeline or reasons for the President to decide on mercy pleas, this provision has been left to gross misuse & abuse, as is seen in this case, and in many such cases in the past. Even Ajmal Kasab was finally executed in secrecy, after much dithering and expenses of over Rs. 50 crores, for political reasons. Law will take its own course is just a meaningless cliche's statement parroted by our politicians and the powers-that-be.

Vinay Joshi

3 years ago

Hello Ms. Sucheta,

Please restrain from such type of posts.

If at all please enumerate all aspects from the time of death penalty awarded till the present SC Judgement.

MLF SHOULD RESIST FROM SUCH ASPECTS!

Regards,

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