In New Delhi, Public sector banks could recover only 14 percent of the written-off loans worth Rs 7.34 lakh crore in the last five years ending March 2022, Parliament was informed on Tuesday. Of Rs 7.34 lakh crore written-off loans, state-owned lenders recovered Rs 1.03 lakh crore, Finance Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.
So after recovery, the net written-off stood at Rs 6.31 lakh crore in the last five years. Replying to another question, the Finance Minister said non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of a write-off as per RBI guidelines and policy approved by bank boards.
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