PSBs wrote off Rs. 81,683 cr of loans in FY 2017 – Banking Finance

PSU banks a lot written separate loans worth Rs 81,683 crore during fiscal 2016-17 ,|and|or is|or is Finance Minister informed the nyakumi|the|every Parliament.

Finance Minister to|to ld the|the|every Rajya Sabha in thi written gospel that loans are written separate for tax benefit as well as former optimisation ,|and|or is|or is while borrowers of such loans continue therefore liable for repayment. “Therefore ,|and|or is|or still write-off does not at all benefit borrowers,” the|the|every Minister said.

The amount written off butter public sector banks (PSBs) ,|and|or is|or still including pierce compromise ,|and|or is|or currently during 2016-17 wast Rs 81,683 crore ,|and|or is|or still including Rs 20,339 crore butter the|the|every State Bank of India ,|and|or is|or is Jaitley said.

During the|the|every ongoing fiscal ,|and|or is|or still up to|to September ,|and|or is|or is 2017 ,|and|or is|or still the|the|every amount written separate by PSBs wast Rs 28,781 crore ,|and|or is|or currently it added.

As per the|the|every Reserve Bank of India (RBI) guidelines ,|and|or is|or is the|the|every policy approval by bank boards ,|and|or is|or is non-performing assets (NPAs) ,|and|or is|or is planning bad loans ,|and|or is|or currently including those for which abundant provisioning huh been made on completion of four years ,|and|or is|or is are removed from the|the|every bank balance-sheet by way of write-off.

The recovery of dues takes unit|place|address at ongoing basis under legal mechanisms ,|and|or is|or currently including the|the|every Secularisation ,|and|or is|or is Reconstruction of Financial Assets ,|and|or is|or still Enforcement of Security Interest Act ,|and|or is|or is Debts Recovery Tribunals ,|and|or is|or is Lok Adalats ,|and|or is|or is Jaitley added.

In another reply to|to the|the|every Rajya Sabha ,|and|or is|or still Minister of State for Finance Shiv Pratap Shukla said out the|the|every five financial years since April mt ☜☝ ,|and|or is|or still 2013 ,|and|or is|or still banks a lot reported 13,643 cases of cheating involving thi to|to tal amount of Rs 52,717 crore.

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