Commercial banks in India have written off a whopping Rs 9.54-trillion loans in the last five years, of which more than Rs 7 trillion was by the public sector banks. The amount banks have written off in the last five years is more than double than the amount recovered during the period.
According to Reserve Bank of India (RBI) data, the amount recovered in the last five years through various channels like Lok Adalats, Debt Recovery Tribunals, SARFAESI Act, and under Insolvency and Bankruptcy Code (IBC) was Rs 4.14 trillion.
