Banks have written off a total of Rs 16.35 lakh crore in non-performing assets (NPAs) or bad loans over the past decade, Parliament was informed on Monday.
The highest write-off occurred in FY 2018-19, amounting to Rs 2,36,265 crore, while the lowest was in FY 2014-15, with Rs 58,786 crore written off, news agency PTI reported.
In the financial year 2023-24, banks wrote off Rs 1,70,270 crore in bad loans, a decrease compared to Rs 2,16,324 crore written off in the previous fiscal year.
Finance Minister Nirmala Sitharaman explained that banks write off NPAs, including those for which full provisioning has been made after four years, in accordance with Reserve Bank of India (RBI) guidelines and the policies approved by their boards….
