Whatever the government may say about the Public Sector Banks, it is on record that there is steady growth. Despite the thousands of crores of bad loan/NPA, the profit of the banks are on the rise. The following statistics for the last few years show the steady growth of the PSU Banks.
Year Profit in crores
2008-09 Rs. 33,514
2009-10 Rs. 38,225
2010-11 Rs. 43,250
2011-12 Rs. 47,483
2012-13 Rs. 48,700
The bad loans which are given the label ‘Non-Performing Assets’ (NPA) have also increased. From Rs. 39,030 crore in 2007-08, it has increased to Rs. 1,64,461 crore in 2012-13. The defaulters are mainly the big corporates and the big business. You can see the name of all the big corporates in the defaulters list. A leader of the Bank Employees has stated that about 50% of the bad loans are by the 30-40 top corporates of the country and the central govt. is supporting them by not taking any action against them. Despite these huge bad loans the PSU Banks are in profit.
Hearty congratulations to the PSU Banks and their workers!