Yogi raps officials as NPAs of UP cooperative banks swell, recoveries drag

CM calls for immediate remedial steps as these banks' NPAs at 18.59% are more than twice the average of the state's banking sector at 8.75%

Uttar Pradesh chief minister Yogi Adityanath has raised concerns over rising non-performing assets (NPAs) and poor loan recovery of the state's cooperative banks.

The CM has directed the state cooperative department to analyse the root cause of burgeoning NPAs and take immediate measures, while fixing the accountability of concerned officials and taking stern action if needed.

At the end of September 2018, cooperative banks in UP had a branch network of 1,589 with deposits and advances of Rs 16,750 crore and Rs 13,513 crore, respectively. Thus, their credit deposit ratio (CDR) stood at more than 80% against the net banking