Banks wrote off loans worth Rs. 10 trillion in past 5 years

Banks have written off loans worth about Rs 10 lakh crore in the last five financial years, Parliament was informed.

During 2021-22, the write-off amount came down to Rs 1,57,096 crore compared to Rs 2,02,781 crore in the previous year, Minister of State for Finance Bhagwat K Karad said in a written reply in Rajya Sabha.

In 2019-20, the write-off was worth Rs 2,34,170 crore, down from Rs 2,36,265 crore, the highest in five years recorded in 2018-19.

During 2017-18, the write-off by banks stood at Rs 1,61,328 crore, he said.

In all, he said, bank loans to the tune of Rs 9,91,640 crore have been written off in the last five years-2017-18 to 2021-22.