10 lakh crore written off in public sector banks in 5 years, SBI the biggest loss
Presenting the figures of the last five years in the Parliament, it has been told that the loans stuck in the banks for five years have been transferred to the write-off account as per the guidelines of RBI.
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NPAs Write Off : Finance Minister Nirmala Sitharaman has given complete information about the amount written off by the country’s banks in the Rajya Sabha. Presenting the figures of the last 5 years in the Parliament, the Finance Minister (finance minister) told that in the last five years, the banks have put a total of 10 lakh 9 thousand 511 crore rupees in written off accounts and this balance has been removed from the ledger.
Presenting the figures of the last five years in the Parliament, Finance Minister Nirmala Sitharaman has told that the loans stuck in the banks for the last five years have been transferred to the write-off account as per the RBI guidelines. Along with this, banks have also rectified their existing books. According to the Reserve Bank’s data, banks have written off more than 10 lakh crores in the last five years.
According to statistics, in the last 5 years, the government bank has recovered 1,03 lakh crores out of the waived loans. Also, in the last 5 years, scheduled commercial banks have waived loans worth 10.09 lakh crores.
So many crores of rupees drowned in these banks
- In the last financial year, SBI has written off maximum loans worth Rs 19,666 crore.
- In the last financial year, Union Bank wrote off maximum loans worth Rs 19,484 crore.
- In the last financial year, PNB wrote off maximum loans worth Rs 18,312 crore.
- In the last financial year, Bank of Baroda has written off maximum loans worth Rs 17,967 crore.
The borrower does not get the benefit
Nirmala Sitharaman has told that the borrower does not get the benefit of the loan amount written off. The bank will continue to recover these amounts from the borrower from time to time. The borrower will be held liable to repay the amount. Banks have been making continuous efforts to recover these money. For this, you can also knock on the door of the bank court. Along with this, banks are also capable of taking action against the borrower under the insolvency related law. The court can take action against such people under the Insolvency Law Code 2016.
English News Headline : Government banks waive off loans worth Rs 10 lakh crore in 5 years.
