After 19 quarters, banks witnessed a sharp drop in the incremental gross non-performing assets during January-March 2013, giving false impression of fading stress on balance sheets. Addition to bad loansof 37 banks including State Bank of India was just Rs 519 crore in January-March 2013.
Bankers admitting to substantial clean up done in FY12 and FY13 are quick to point out that risks of slippages especially from restructured accounts remain high due to low prospects of economic recovery and uncertain business climate.
For these banks last time, such a low level of accretion (Rs 62 crore) to NPAs happened in April-June 2008 period, just before onset of full-blown global financial crisis. The Gross NPAs of these banks were about Rs 50,310 crore in June 2008,.
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