Bad loans worth Rs 80,893 crore written off by banks till September quarter
In response to a different question, MoS Finance Anurag Thakur revealed that public sector banks had written off bad loans worth Rs 1.86 lakh crore in FY 2018-19
- Dec 3, 2019,
- Updated Dec 3, 2019 10:10 PM IST
Private as well as government banks have jointly written off bad loans worth Rs 80,893 crore till September quarter of the current fiscal, the government told Rajya Sabha on Tuesday. Replying to a question in the upper house, Minister of State for Finance Anurag Thakur also mentioned that these write-offs do not benefit the borrower.
"As per RBI data on global operations, Public Sector and Private Sector Banks wrote-off Rs 80,893 crore (provisional data), during the current financial year 2019-20 (till September 30, 2019)," Thakur said in his response.
"As borrowers of written-off loans continue to be liable for repayment and the process of recovery of dues from the borrower in written-off loan accounts continues, write-off does not benefit the borrower," he stated.
Mudra loans report card: PNB NPAs at 23%, other banks' above 20%
In response to a different question, Thakur revealed that public sector banks had written off bad loans worth Rs 47,658 crore, Rs 56,847 crore, Rs 79,048 crore, Rs 1,24,275 crore and Rs 1,86,632 crore during financial years 2014-15, 2015-16, 2016-17, 2017-18 and 2018-19, respectively. "Of these, write-off in loans pertaining to "Agriculture and allied activities" was Rs 2,833 crore, Rs 6,361 crore, Rs 7,091 crore, Rs 10,345 crore and Rs 12,556 crore respectively," Thakur had said.
Private as well as government banks have jointly written off bad loans worth Rs 80,893 crore till September quarter of the current fiscal, the government told Rajya Sabha on Tuesday. Replying to a question in the upper house, Minister of State for Finance Anurag Thakur also mentioned that these write-offs do not benefit the borrower.
"As per RBI data on global operations, Public Sector and Private Sector Banks wrote-off Rs 80,893 crore (provisional data), during the current financial year 2019-20 (till September 30, 2019)," Thakur said in his response.
"As borrowers of written-off loans continue to be liable for repayment and the process of recovery of dues from the borrower in written-off loan accounts continues, write-off does not benefit the borrower," he stated.
Mudra loans report card: PNB NPAs at 23%, other banks' above 20%
In response to a different question, Thakur revealed that public sector banks had written off bad loans worth Rs 47,658 crore, Rs 56,847 crore, Rs 79,048 crore, Rs 1,24,275 crore and Rs 1,86,632 crore during financial years 2014-15, 2015-16, 2016-17, 2017-18 and 2018-19, respectively. "Of these, write-off in loans pertaining to "Agriculture and allied activities" was Rs 2,833 crore, Rs 6,361 crore, Rs 7,091 crore, Rs 10,345 crore and Rs 12,556 crore respectively," Thakur had said.