The gross non-performing assets of public sector banks stood at Rs 3.16 trillion as of 30 September which is 3.09% of the outstanding loans, Parliament was informed on Tuesday.

Minister of State for Finance Pankaj Chaudhary said in the Rajya Sabha that as per provisional data of the Reserve Bank of India (RBI), gross NPAs of public sector and private sector banks as on September 30, 2024 were Rs 3,16,331 crore and Rs 1,34,339 crore, respectively.

Further, gross NPAs as percentage of outstanding loan was 3.09% in public sector banks and 1.86% in private sector banks.

Chaudhary said as of March 31, 2024, 580 unique borrowers (excluding individuals and overseas borrowers), each having loan outstanding of more than Rs 50 crore, were classified as wilful defaulters by scheduled commercial banks.

To a query on the number of cases resolved and amount of haircuts by banks through the operation of Insolvency and Bankruptcy Code, Chaudhary said as per data, up to September 30, 2024, resolution plans have been approved in 1,068 corporate insolvency resolution processes.

These resolutions led to a recovery of Rs 3.55 trillion to the creditors, including banks.