Scheduled commercial banks (SCBs) have written off non-performing assets (NPAs) worth over Rs9.92 lakh crore during the last five financial years (FYs)
Scheduled commercial banks (SCBs) have written off non-performing assets (NPAs) worth over Rs9.92 lakh crore during the last five financial years (FYs)
Banks write off loans worth Rs 10 lakh crore in last 5 years, Rajya Sabha told tribuneindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneindia.com Daily Mail and Mail on Sunday newspapers.
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While the common borrowers are struggling with repaying equated monthly instalments (EMIs) of their loans and also face harassment for missing a single EMI, big and wilful defaulters seem to not only go scot-free but also live life king-size without any worry or fear of any action due to the the banks, especially the public sector banks (PSBs), turning a blind eye on these lapses. In a reply to an application filed under the Right to Information (RTI) Act, the Reserve Bank of India (RBI) says there are 1913 wilful defaulters, who together owed Rs1.46 lakh crore to banks as on June 2020.