India has the highest level of non-performing assets (NPA) among BRICS countries and is ranked fifth on a list of countries with the highest levels of NPAs, a report by CARE Ratings revealed. The only countries ranked higher than India on the list are Greece, Italy, Portugal, and Ireland. All these countries, along with Spain, are commonly referred to as PIIGS, and have been victims of sovereign debt crises in recent years.
That cleaning up bad loans from the system would be completed by March 2018 and any further rise in NPAs after that could be stemming from factors other than the ones identified by banks. Australia, Canada, Hong Kong, Republic of Korea and the United Kingdom were all found to have an NPA ratio of less than 1 percent and were classified in the first category.
The second category was largely made up of major economies from around the world like China, Germany, Japan, and the USA, all of who have NPA ratios of less than 2 percent. The third category consisted of a few developed European countries but was largely constituted of fast-growing developing countries like Brazil, Indonesia, Thailand, South Africa and Turkey.