Country’s largest lender SBI writes off loans worth this much; know more
In a major decision, the country’s largest lender SBI wrote off bad loans worth Rs 20,339 crore in 2016-17.
It is however, the highest among all the public sector banks and the collective write off is to the tune of Rs 81,683 crore for the fiscal.
The data released pertains to the period when the associate banks of State Bank of India (SBI) were not merged with it.
The figure has jumped nearly three-fold in five years.
In 2013-14, the state-owned banks wrote off bad loans worth Rs 34,409 crore; Rs 49,018 crore in 2014-15; Rs 57,585 crore in 2015-16 and hitting Rs 81,683 in the fiscal ended March 2017.
Besides SBI, Punjab National Bank had a write-off of Rs 9,205 crore in 2016-17, followed by Bank of India (Rs 7,346 crore), Canara Bank (Rs 5,545 crore) and Bank of Baroda (Rs 4,348 crore).>