₹12.3 lakh crore: Indian banks' loan write-off in past 10 years
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🗞️ ₹12.3 lakh crore: Indian banks' loan write-off in past 10 years -Public sector banks led write-offs, particularly in recent years. However, write-offs declined to Rs 1.7 lakh crore in FY24.
Expert opinion: Minister of State for Finance Pankaj Chaudhary explained the write-off process: “Banks write-off NPAs in respect of which full provisioning has been made on completion of four years, according to RBI guidelines and policy approved by banks' boards. Such write-off does not result in waiver of liabilities of borrowers and therefore, it does not benefit the borrower and banks continue to pursue recovery actions initiated in these accounts."