<img src="https://trc.taboola.com/1321591/log/3/unip?en=page_view" width="0" height="0" style="display:none">
Fact Check Library

Fact Check with Logically.

Download the Free App Today

false
false

CLAIM ID

ed802f91

Public sector banks utilized the pensioner's fund to write off NPA.

There is no evidence that employee funds in public sector banks have been written off as nonperforming assets in recent years.

There is no evidence that employee funds in public sector banks have been written off as nonperforming assets in recent years.There is no evidence that any public sector banks used the pensioner's fund to write down non-performing assets (NPA). There are no official statements from the Reserve Bank of India (RBI) or any other government body.

The pension scheme in public banks was created using the same principles that the RBI uses for its retirees. The general conditions of the bank pension scheme are on the lines of the RBI Pension Scheme, according to clauses 6 and 12 of the Memorandum of Settlement dated October 29, 1993.

According to The Hindu, as of June 2016, public and private sector banks' gross NPA totaled over ₹6 lakh crore. The total value of the top twenty NPA accounts held by Public Sector Banks is Rs. 1.54 lakh crores.

According to the Financial Express, due to disruptions caused by the coronavirus pandemic, banks' gross NPA is expected to rise to 11.3-11.6 percent by the end of 2021, up from 8.6 percent in March 2020. Fresh gross slippages are expected to be 5-5.5 percent of standard advances in 2020-21, according to a report from credit rating agency ICRA, which will increase banks' credit provision and impact their earnings.

Have a question or correction on one of our fact-checks?

If you think a claim has been misjudged or requires correction, please send us evidence to support your error claim. We will revisit our evidence and verdict and conduct additional research to verify new information.

Fact Check of the Day

misleading

397 children were diagnosed with heart inflammation after receiving Pfizer’s COVID-19 vaccine in U.S.