2018-22: Banks wrote off Rs 10 lakh crore loans

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, the Minister informed the Parliament.

FPJ BureauUpdated: Wednesday, August 03, 2022, 12:19 AM IST
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2018-22: Banks wrote off Rs 10 lakh crore loans | Pixabay

Even as the Ministry of Finance and the RBI kept a close watch and issued strict risk advisories on non-performing assets and bad loans, Indian banks have written off loans worth Rs 10 lakh crore in the last five years. The data on this whopping bad loan write-off includes Rs 1,57,096 crore during 2021-22. The total number of wilful defaulters during this period stood at 10,306.

The Minister of State for Finance Bhagwat K Karad said in a written reply in Rajya Sabha on Tuesday that 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. The trend, however, shows that the risk advisories have at least helped reduce the size of bad loans and the number of wilful defaulters over the years.

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, the Minister informed the Parliament.

In 2019-20, the write-off was worth Rs 2,34,170 crore, down from the previous year’s Rs 2,36,265 crore – the highest in five years, he said in the reply.

The highest number of 2,840 wilful defaulters reported in 2020-21 was followed by 2,700 the next year. While the number of wilful defaulters stood at 2,207 at the end of March 2019, they rose to 2,469 in 2019-20. Sharing details of top 25 wilful defaulters at the end of March 2022, Karad said, Gitanjali Gems Ltd tops the list followed by Era Infra Engineering, Concast Steel and Power, REI Agro Ltd and ABG Shipyard Ltd.

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