Punjab National Bank (PNB) has shown the highest increase in the number of non-performing assets (NPAs). The list included only the state-owned banks and on the number one position was PNB.

The report submitted by the Standing Committee of Finance that was submitted in the Parliament showed that PMB has seen a three times increase in the number of bad loans. The total worth of the same has reached Rs. 842 crore. On the second position was Union Bank of India which was followed by Corporation Bank, Bank of India, Vijaya Bank and Canara Bank.

But the good news is that there are other public sector banks like Bank of Baroda, Indian Bank, Central Bank of India, UCO Bank and, State Bank of Hyderabad, that have shown a decrease in NPAs.

The time under consideration was the first nine months of the last fiscal.

Global recession has been cited as the reason for this increase. Bad monsoon and pandemics like bird-flu have also acted as the spoilsport.

The Finance Ministry in its explanation to the Committee said that each of the above mentioned banks have been asked to look into these NPAs.