‘Loans Written Off’ spree by Nationalized Banks; SBI leads; bank employees association releases 5 years’ data
Kanwar Inder Singh/ royalpatiala.in News/ December 23,2024
Ch Venkatachalam , general secretary of All India Bank Employees’ Association (AIBEA) has released a 5 year figures of ‘Loans Written-off by Public Sector banks on his social media X account.
According to data shared by All India Bank Employees’ Association (AIBEA), the same is released by Finance Ministry in response to a question in the Lok Sabha.
As per the data, Rs 1,31,894 crores were wrote off by Public sector banks in the year 2020-21. Similarly, Rs 1,15,537 crores were written off by Public sector banks in the year 2021-22, Rs 1,18,949 crores were written off by Public sector banks in the year 2022-23, Rs. 1,14,712 crores were written off by Public sector banks in the year 2023-24 and Rs 42,305 crores were written off by Public sector banks in the year 2024-25 (till September 30,2024 for 6 months).
India’s largest bank, State Bank of India (SBI) leads in writing off loans. In the years 2020-21 the bank has wrote off Rs 34,402 crores, Rs 19,666 crores in 2021-2022, Rs. 24,061 crores and Rs. 8312 crores (in the year 2024-25 (till September 30,2024 for 6 months). In the year 2023-24, another largest public sector bank Punjab National Banks (PNB) tops the chart and wrote off Rs. 18,317 crores followed by SBI, Rs. 16,161 crores.
‘Loans Written Off’ spree by Nationalized Banks; bank employees association releases 5 years’ data. Banks write off fully provisioned non-performing assets (NPAs) as per the Reserve Bank of India’s (RBI’s) norms and bank board-approved policies.
A retired chief manager of a nationalised bank on the condition of anonymity said “Such write-offs do not result in the waiver of liabilities of borrowers and therefore, write-offs do not benefit the borrower. The borrowers continue to be liable for repayment, and banks continue to pursue recovery actions initiated in these accounts.”
