‘India adjudged having one of highest level of NPAs’; heres about the concern
In what should be a matter of concern for India, the country is now known to have the highest level of non-performing assets (NPA) among BRICS countries.
India has been ranked as fifth on a list of countries with the highest levels of NPAs.
This according to a report by well known CARE Ratings.
In the list itself, the only countries ranked higher than India on the list are Greece, Italy, Portugal, and Ireland.
It is also noteworthy that all these countries, along with Spain, are commonly referred to as PIIGS, and have been victims of sovereign debt crises in recent years.
The rating agency also said that cleaning up bad loans from the system would be completed by March 2018 and any further rise in NPAs after that could be stemming from factors other than the ones identified by banks.
The report classified countries into four categories – those having very low levels of NPAs, those with low levels of NPAs, those with medium levels of NPAs and countries with high levels of NPAs.
Australia, Canada, Hong Kong, Republic of Korea and the United Kingdom were all found to have an NPA ratio of less than 1 percent and were classified in the first category. >