West Bengal Finance Minister Amit Mitra has termed the rising non-performing assets (NPAs) in the economy as a “serious crisis”.
“Macroeconomic scenario of the banking sector is in serious crisis. With the NPA climbing systematically from March 2014 to March 2018, the scams were in the offing,” Mitra said, while addressing the Banking Conclave organised by the Indian Chamber of Commerce in Kolkata on Friday.
Mitra warned of more financial scams in the country as NPAs of banks are steadily on the rise.
NPAs in the banking sector went up to around Rs 10.25 trillion at the end of March 2018 against Rs