Impact of Non-Performing Assets on Indian Banking Sector: A Post Pandemic Analysis
Abstract
As per an official statement by RBI on 22nd May, 2020, every one of the commercial banks, co-operative banks, all-India financial institutions and NBFCs were allowed to permit a moratorium on instalment of portions of all term-advances up till 31st August, 2020 for the first time. On May 5, 2021 the RBI governor announced yet another moratorium for individuals and small businesses. The borrowers were given an opportunity to avail for a moratorium of 2 years or less for which they last date of application was till Sept 31, 2021. The greater parts of the borrowers in India are hard-headed defaulters and stay away from paying instalment of the credit portions either on schedule or not in the slightest degree. By giving the arrangement of conceded instalment of credit portions the RBI has in a manner given a free pass to the borrowers and they might keep on defaulting now like never before
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