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RBI says NPAs rise in urban co-op banks, losses balloon up

A report by RBI noted that the proportion of gross non-performing assets (NPAs) of urban co-operative banks saw a rise in FY20 to 10.8 per cent as against 7.3 per cent in the previous year. The combined losses amounted to Rs 4,806 crore for FY20 as against a profit of Rs 3,544 crore, majorly because of the hit on interest income because of high NPAs and lower investments.Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News

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