Much is being made of the non-performing assets (NPAs) in the Indian banking sector and banks will do well to get it behind their backs, K V Kamath, CEO & MD of ICICI Bank, said at a seminar here today.
Justifying his stand with figures, he said a developed country such as Japan was reeling under a mountain of NPAs amounting to $1.2 trillion, which is 30 per cent of gross domestic product and China was weighed down by $600 billion in sticky assets (43 per cent of GDP).
In sharp contrast the Indian banking system had NPAs aggregating $40 billion (8 per cent of GDP). Kamath, who was speaking at a seminar - Bharat and Emerging Global Power - organised by the Centre for Bharatiya Marketing Development and the Indian Merchants
