Goa Urban Co-operative Bank has experienced an unusual spike in its NPAs as its borrowers affected by the crisis-ridden mining industry are not able to repay their loans to the bank, reports Navhind Times.
In a related development Goa Chief Minister , who is recuperating in a AIIMS has asked Centre to find a way out for resumption of mining in the state. Mining makes up 35 per cent of state’s earning.
The NPAs (non-performing assets) of the bank rose to Rs 109.01 crore during the fiscal 2017-18, compared to Rs 88.40 crore during the previous financial year.
The information was made public in the bank’s AGM held recently in Panaji. A source is quoted claiming, however, that the rise in the NPAs of the bank is also attributed to the major loans given to some builders and miners.