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Govt Says Bank Gross NPAs Down to Rs7.56 Lakh Crore; Banks Recovered Rs3.68 lakh Crore in Past 3 Years

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The non-performing assets (NPAs) of scheduled commercial banks (SCBs) in India have come down to Rs7,56,560 crore (Rs7.56 lakh crore) from Rs10.36 lakh crore as on March 2018. At the same time, over the past three years, banks have recovered Rs3.68 lakh crore, including recovery of Rs68,219 crore from written-off loan accounts, the Lok Sabha was informed.

Rama Devi, a member of Parliament (MP) had asked a question on written-off bank loans and recovery. Replying to this, Anurag Thakur, minister of state for finance, says, .as a result of government’s strategy of recognition, resolution, recapitalisation and reforms, gross NPAs of SCBs have since declined by Rs2.79 lakh crore to Rs7.56 lakh crore as per provisional data on 31 December 2020. ....

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264 Big Wilful Defaulters Owe Rs1.08 Lakh Crore to Banks, Reveals RBI

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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. ....

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