Public sector banks wrote off loans worth Rs 3.66 lakh crore in last three fiscal years

New Delhi, Dec 6 (IANS): Public sector banks wrote off a whopping Rs 3.66 lakh crore loans in the last three financial years, according to RBI data.

At the same time, these banks recovered just Rs 1.9 lakh crore during this period, the data obtained by through RTI showed.

The Ministry of Finance informed the Lok Sabha on Monday that in the last five years, scheduled commercial banks (SCBs) wrote off nearly Rs 10.6 lakh crore with nearly half of these loans being given to to large industries and the services sector.

“A total of Rs 2.09 lakh crore worth of loans were written off by banks in 2020-23, out of which 52.3 percent was linked to large industries and services,” Minister of State for Finance Bhagwat Karad said in response to a question in the Lok Sabha.

Public sector banks have been slow in recovering bad loans despite the RBI directing them to expedite the process.

In 2022-23, SBI, the country’s largest bank, wrote off loans worth Rs 24,061 crore, while its recoveries were only Rs 13,024 crore. Similarly, Bank of Baroda wrote off Rs 17,998 crore while its total recovery stood at a mere Rs 6,294 crore, according to the RTI data.

Canara Bank, appears to be an exception with a total loan recovery of Rs 11,919 crore exceeding the amount of Rs 4,472 crore worth loans that were written off in 2022-23.


Top Stories

Comment on this article

  • Roland, Mangalore

    Thu, Dec 07 2023

    Narayan Murthy has a problem when the Karnataka government gives free bus rides, freee food etc. to the public. But he will not comment on the write off by PSU banks on instructions of the central government. # Murthy hypocrite

    DisAgree Agree [3] Reply Report Abuse

  • Gautam Das, Bangalore

    Wed, Dec 06 2023

    This is BJP govt’s scientific strategy to make india -$5 tr economy.

    DisAgree Agree [5] Reply Report Abuse

  • Jossey Saldanha, Raheja Waterfront

    Wed, Dec 06 2023

    What are the Loans of Gautam Adani ...

    DisAgree Agree [7] Reply Report Abuse

Leave a Comment

Title: Public sector banks wrote off loans worth Rs 3.66 lakh crore in last three fiscal years

You have 2000 characters left.


Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will be held responsible.