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Business News›News›Economy›Finance›NPA mess: PSU banks wrote off loans worth Rs 2.42 lakh cr in 3 years
NPA mess: PSU banks wrote off loans worth Rs 2.42 lakh cr in 3 years
State-run banks have written off nearly Rs 2.42 lakh crore worth of non-performing assets (NPAs), or bad loans, between April 2014 and September 2017, Minister of State of Finance Shiv Pratap Shukla told the Rajya Sabha in a written reply on Wednesday. Shukla said that recovery of dues is an ongoing activity under the legal mechanism, including the Securitisation and Reconstruction of Financial Assets (SARFAESI) Act and debt recovery tribunals (DRTs). "Therefore, write offs do not benefit borrowers."
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