SBI wrote off horrific loans really worth over Rs 20,000 crore closing fiscal

SBI wrote off horrific loans really worth over Rs 20,000 crore closing fiscal

The country’s biggest lender SBI wrote off terrible loans well worth Rs 20,339 crore in 2016-17, the very best among all the public area banks, which had a collective write off of Rs eighty-one,683 crores for the economic.
The facts relating to the period whilst the partner banks of kingdom bank of India (SBI) were no longer merged with it.
Public zone banks’ (PSBs) write-off stood at Rs 27,231 crore in 2012-thirteen, government information confirmed.
The discern has jumped almost three-fold in five years.
In 2013-14, the nation-owned banks wrote off horrific loans well worth Rs 34,409 crore; Rs forty-nine,018 crore in 2014-15; Rs 57,585 crore in 2015-16 and hitting Rs 81,683 inside the fiscal ended March 2017.

except for SBI, Punjab countrywide bank had a write-off of Rs nine,205 crores in 2016-17, followed with the aid of bank of India (Rs 7,346 crore), Canara Bank (Rs five,545 crores) and Bank of Baroda (Rs 4,348 crore).

inside the current monetary yr, PSBs have written off loans worth Rs 53,625 crore within the six months to September.

As consistent with statistics from the Reserve bank, nine public quarter banks, out of the full 21, had gross non-appearing asset ratio of above 15 in line with cent (the share of awful loans in phrases of overall loans fantastic) as of September 30, 2017.

Fourteen PSBs have gross non-acting asset ratio of over 12 consistent with a cent.

PSBs are faced with mounting non-appearing belongings (NPAs) or horrific loans, putting the economic zone beneath the pressure. The government has unveiled a Rs 2.11 lakh crore capital infusion plan for the PSBs, along with via bonds, in the subsequent two years.