Banks have written off loans worth Rs 9.75 lakh crore in the last 11 financial years, Minister of State for Finance Pankaj Chaudhary said on Monday.
The write off peaked in fiscal year 2020 at Rs 1.59 lakh crore, and since then it has been declining to Rs 47,568 crore in financial year 2025.
Banks have written off Rs 31,723 crore in fiscal 2015, Rs 40,416 crore in fiscal 2016, Rs 68,308 crore in financial year 2017, and Rs 99,132 crore in financial year 2018, he said in a written reply to the Lok Sabha.
In 2018-19, he said, the write off of loans crossed Rs 1 lakh crore to Rs 1.59 lakh crore.
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"Banks write off NPAs, including those in respect of which full provisioning has been made on completion of four years, as per RBI guidelines and policy approved by banks' boards. Such a write-off does not result in waiver of liabilities of borrowers, and therefore, it does not benefit the borrower," he said.
The borrowers continue to be liable for repayment, and banks continue to pursue recovery actions initiated in these accounts, he added.
The recovery in written-off loans is an ongoing process, and banks continue pursuing their recovery actions initiated against borrowers under various recovery mechanisms available to them, he noted.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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