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Time of India
15-05-2025
- Business
- Time of India
Banks: Rise of non-performing assets in absolute nos. a concern
Ranchi: The non-performing assets (NPA) of banks have declined in terms of percentage in the state but registered an increase in absolute numbers in 2024-25 financial year (FY) as against 2023-24 FY. Bank officials said increase in total advances, competitive market leading to business failures, and the lure to get loans written off particularly in govt schemes were responsible for situation. A report submitted during state-level bankers' committee (SLBC) meet revealed that the total credit was Rs 133,779.35 cr and the NPA was Rs 7,448.78 cr in 2023-24 FY while the advances were Rs 153,920.43 cr and the NPA was Rs 8,194.83 cr in 2024-25. The NPA declined from 5.57% on March 2024 to 5.32% on March 2025 but increased by Rs 746.05 cr in gross amount. The SLBC said the state of affairs was not only making an adverse impact on financial situation of banks but also decreasing their profitability and liquidity. The worst performing banks — Punjab National Bank, Bank of India, and Indian Bank — have NPAs ranging from around 11 per cent to 19 per cent. Bank of Maharashtra, State Bank of India, and Canara Bank have the lowest NPAs, ranging between 0.75% and 3.50%. Credits given under govt schemes like Pradhan Mantri Employment Generation Programme, Pradhan Mantri Mudra Yojna, SHGs registered a rising NPA. SLBC convener and general manager of the Bank of India, Guru Prasad Gond, said, "Banks are taking a series of measures, including one-time settlement of dues on liberal terms, for recovery of loans. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Probably a bad dream': Stage 4 cancer at 30 and how this millennial is navigating through it CNA Read More Undo The debtors are also being provided refinance to enable them recover from adverse business situation. If Kisan Credit Card holders pay loans on time, their entire interest would be waived off under govt schemes." Banks have filed 48,033 cases before certificate officers, 4,396 cases with debt recovery tribunal and issued notices in 637 cases for confiscation of debtor's assets under securitisation and reconstruction of financial assets and enforcement of securities interests.
Time of India
21-04-2025
- Business
- Time of India
KVIC crosses Rs 1.7 lakh crore turnover, 50% rise in employment generation
Photo credit- ANI The Khadi and Village Industries Commission ( KVIC ) has achieved a milestone, with its turnover crossing 1.70 lakh crore for the first time in independent India's history, according to the Ministry of Micro, Small and Medium Enterprises. KVIC Chairman Manoj Kumar shared provisional figures for the financial year 2024–25, marking record growth across production, sales, and employment. Releasing the data on Monday at the KVIC headquarters in Rajghat, New Delhi, Manoj Kumar announced that Khadi and Village Industries products saw a 347 percent increase in production and a 447 percent rise in sales over the past 11 years. Employment generation rose by 49.23 percent, reaching 1.94 crore individuals, reflecting the sector's deepening role in rural livelihood generation. 'The vision of a self-reliant India , rooted in the legacy of Bapu's Khadi, is being realized through the transformative efforts under 'Azadi Ka Amrit Mahotsav' and the 'Viksit Bharat' mission,' said KVIC Chairman. In FY 2024–25, production jumped to 1.16 lakh crore, up from 26,109 crore in 2013–14. Similarly, sales touched 1.70 lakh crore, compared to 31,154 crore in 2013–14. The Khadi Gramodyog Bhawan in New Delhi also achieved record business, clocking 110.01 crore, more than doubling its 2013–14 turnover of 51.02 crore. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo The Khadi clothing segment too saw a massive surge. Production rose from 811 crore in 2013–14 to 3,783 crore in 2024–25—a 366 percent jump. Sales of Khadi garments soared by 561 percent, from 1,081 crore to 7,145 crore, credited to strong national promotion, especially by the Prime Minister himself. The Pradhan Mantri Employment Generation Programme (PMEGP) continues to play a key role in rural employment. Over 10.18 lakh units have been set up under the scheme, with 27,166 crore in margin money subsidies and over 90 lakh people employed since its inception. Kumar highlighted the growing scale of support under the Gramodyog Vikas Yojana, where the budget was increased by 134 percent to 60 crore for FY 2025–26. KVIC has so far distributed over 2.87 lakh machines and toolkits, including pottery wheels, bee boxes, incense stick machines, and craft toolkits, helping boost micro-enterprises in rural areas. In the past decade, 7.43 lakh people have been trained, of which 57.45 percent (over 4.27 lakh) are women. Additionally, 80 percent of the five lakh Khadi artisans are women, whose wages have increased by 275 percent over the last 11 years—100 percent in just the last three years, as per MSME ministry release. 'This progress is not just statistical—it reflects the transformation of rural India through enterprise, skill-building, and empowerment. It sets a strong foundation for achieving the goal of making India the third-largest economy by 2047,' Kumar concluded. Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
