The increased provisioning of Non-Performing Assets (NPAs) of banks proposed in the budget is unlikely to change the fortunes of banking funds, said Amit Premchandani, fund manger, UTI Banking Sector Fund.
The finance minister has proposed to increase allowable provision for Non-Performing Asset of banks from 7.5 per cent to 8.5 per cent. Interest taxable on actual receipt instead of accrual basis in respect of NPA accounts of all non-scheduled cooperative banks also to be treate ..
