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UCO bank NPA mounts to Rs. 2219.66 Cr in HP : Managing Director

3/20/2018

Agencies, Shimla United Commercial Bank(UCO) which is a lead public sector bank in this hill state announced today that its Non Permforming Asset went upto Rs 2219.66 crore as NPA showing increase up to 5.95 per cent compared to last quarter of 5.62 this year. Announcing performance and results of UCO banks regarding various states and Central schemes being run in the state, UCO Bank Managing Director R K Thakar, who was speaking in the state level banker committee meeting here, said increasing NPA was putting negative impact on the extension of bank credit system. Showing concern over increasing NPA he informed that total NPA in the state mounted to Rs 2219.66 crore as the percentage of NPA show increase from 5.62 per cent of last quarter to 5.95 in the current quarter. The bank in the state claimed to disbursed fresh loan of Rs 13265 crore to as many as 4,39,310 new enterprises till December 2017 after achieving 80 per cent of the credits target. The Public sector banking shown the growth of its current transaction by six per cent with 1.42 lakh crore total volume of business in the state, similarly banks recorded deposits and advances of 1.05 lakh crore and 37136 crore respectively. Additional Chief Secretary Finance Srikant Baldi showed concern regarding poor performance in the crop insurance coverage in the state said that data of Agriculture and Horticulture beneficiaries under Pradhan Mantri Beema Yojana and Amended Weather based corp Insurance is yet to be uploaded on the union Government Crop Portal. He pointed out that farmers are not able to get the benefits of crop insurance schemes as the Centre is not releasing the insurance funds to state due to non-availability data of beneficiaries on the said Portal.

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