the required 10. 875 per cent. overall, the government ’ s efforts to infuse capital into psbs has significantly helped them achieve these targets. 5. we have also put in place frameworks on countercyclical capital buffer ( cccb ), leverage ratio, liquidity coverage ratio ( lcr ) and net stable funding ratio ( nsfr ) 1. for better management of concentration risks and in order to align indian banks with the international norms, the reserve bank proposed guidelines on large exposures which became effective from april 1, 2019. the latest round of reforms published by the basel committee on banking supervision ( bcbs ) in december 2017 have implementation timelines stretching up to 2022. the reserve bank is expected to come up with the draft guidelines by 2020 for consultations. non - performing assets 6. the deterioration in asset quality of indian banks, especially that of public sector banks ( psbs ), can be traced to the credit boom of 2006 - 2011 when bank lending grew at an average rate of over 20 per cent. other factors that contributed to the deterioration in asset quality were 1 / 6 bis central bankers'speeches adverse macro - financial environment ; lax credit appraisal and post - sanction monitoring standards ; project delays and cost overruns ; and the absence of a strong bankruptcy regime until may 2016. the reserve bank set up a central repository of information on large credits ( crilc ) in 2014 which was followed by an asset quality review ( aqr ) in 2015. as a result of these initiatives, the recognition of non - performing assets improved, leading to a sharp rise in the gross npa ratio from 4. 3 per cent at end - march 2015 to 7. 5 per cent at end - march 2016. it further reached the peak of 11. 5 per cent in march 2018. recent supervisory data suggests that various efforts made by the reserve bank in strengthening its regulatory and supervisory framework and the resolution mechanism instituted through insolvency and bankruptcy code ( ibc ) are bearing fruit. this is reflected in significant improvement in asset quality of scheduled commercial banks ( scbs ) during 2018 - 19 as gross npa ratio declined to 9. 3 per cent as on march 2019. 7. at the same time, there has been an improvement in provision coverage ratio ( pcr ) of scbs to 60. 9 per cent at end - march 2019 from 48. 3 per cent at end - march 2018 and 44. 0 per cent at end -

gent sejko : oversight, analysis and vision of public governance in albania speech by mr gent sejko, governor of the bank of albania, at the presentation of the supreme state audit annual review 2015, tirana, 1 february 2016. * * * your excellency president of the republic of albania, dear chairman of the supreme state audit institution, honourable chairman of the parliamentary committee on economy and finance, your excellency ambassador lu, your excellency minister, dear representatives of public institutions, honourable mps, dear professors, dear participants, it is a special pleasure for me to be here today on the occasion of the annual review of the activity of the supreme state audit ( alsai ) for 2015. alsai is among the most important constitutional institutions in albania, whose objective – ensuring good management of public finances – is highly significant. the effective use and certification of public funds in conformity with the laws regulating the economic and financial activity of the public sector, on - going public communication, in relation to irregularities and relevant responsibilities have been at the focus of alsai ’ s work in recent years. in this perspective, the role and mission of the alsai are highly important ; therefore, the issues raised in alsai ’ s reports should be thoroughly analysed. they are both necessary and preventive instruments for the institutions subjected to alsai ’ s audit. notably, the bank of albania and alsai have had a fruitful cooperation, in line with both current and prospective dynamics and developments. we have made constant and joint efforts so that the conclusions and recommendations left by alsai become a useful, guiding, helpful, and corrective tool. in view of the insofar experience, this combination is an essential component in the work of audit institutions. i have believed and still do believe that auditing is a key instrument, which serves to further perfecting public sector governance. the alsai has contributed and will continue to contribute to identifying various problems facing public institutions, divergences from legal and regulatory framework, with subsequent financial effects, and their correction, in accordance with legal requirements and international standards. focusing on the future role of alsai, i am confident it will increase the contribution to perfecting the three main dimensions – oversight, analysis, and vision – of public governance. more specifically, • with regard to the oversight dimension, the great dilemma is whether public entities are accomplishing their mission in detecting and preventing corruption ; • with regard to the analysis dimension, the