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A staggering Rs 4.4 lakh crore of fresh non-performing assets (NPAs) were added by banks in 2015-16, showed RBI data released on Thursday. Public sector banks, excluding SBI and its associates, accounted for roughly two-thirds of these fresh additions. SBI and its associates accounted for a fifth of the fresh additions, while private sector banks accounted for only 10%. Roughly Rs 80,000 crore of NPAs were reduced during this period, while another Rs 72,500 crore of bad loans were written off. To recover money blocked in NPAs, banks stepped up efforts in FY16. The number of cases filed by banks through Lok Adalats, debt recovery tribunals and via the Sarfaesi Act rose 47.5% in FY16. But, the amount recovered actually fell from Rs 30,800 crore in FY15 to Rs 22,800 crore in FY16.
