What is the India’s ranks on a list of countries with highest Non-performing Assets (NPA) levels, according to latest report by CARE Ratings?
India has been ranked 5th on a list of countries with highest Non-performing Assets (NPA) levels and is on top spot among the BRICS nations, according to latest report by CARE Ratings. The NPA list is topped by Greece (36.4%) followed by Italy (16.4%), Portugal (15.5%) and Ireland (11.9%). All these countries, along with Spain, are commonly referred to as PIIGS, and have been victims of sovereign debt crises in recent years. Spain is ranked at 7th spot below India and Russia. At 9.85%, India’s NPA ratio is 400 points higher than that of Spain’s. The CARE ratings report was compiled in four categories, including low, very low, medium, and high level of NPAs. With NPA ratio of just 1%, Australia, Canada, Hong Kong, Republic of Korea and the United Kingdom were listed in the first category, while China, Germany, Japan, and the USA – with less than 2% of NPA – was listed in the second category. Growing economies like Brazil, Indonesia, South Africa and Turkey were listed in the third category.