Banks put Rs 9,800-cr NPAs for sale

BS Reporter / Mumbai Feb 24, 2012, 00:02 IST

Banks have turned aggressive in recovering dues from non-performing assets (NPAs), putting NPA properties worth Rs 9,900 crore on the block in the first ten months of 2011-12.

Five states — Tamil Nadu, Uttar Pradesh, Gujarat, Andhra Pradesh and Maharashtra — account for the highest value of NPA properties sold in 2011-12, according to a study by NPAsource.com.

Of the 6,359 units valued at Rs 9,897 crore, Tamil Nadu had the largest NPA properties, worth Rs 1,261 crore, spread across 663 units. Uttar Pradesh came second, with 533 units worth Rs 1,025 crore.

Gujarat, with 349 properties worth Rs 1,023 crore, and Andhra Pradesh, with 1,226 units worth Rs 1,004 crore, came third and fourth, respectively.

While Mumbai was the biggest centre for the disbursement of loans to companies, Tamil Nadu and Uttar Pradesh accounted for the largest NPA properties (by value) in the first 10 months of 2011-12.