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PSU banks write off 59,547 cr loans
Public sector banks have written off loans worth Rs 59,547 crore in 2015-16, Parliament was informed on Tuesday.
New Delhi: Public sector banks have written off loans worth Rs 59,547 crore in 2015-16, Parliament was informed on Tuesday.
Of the total, State Bank of India (SBI) alone has written off Rs 15,763 crore loans, Minister of State for Finance Santosh Kumar Gangwar said in a written reply to the Rajya Sabha.
Among the nationalised banks, Punjab National Bank has written off Rs 7,340 crore, followed by IDBI bank (Rs 5,459 crore) and Canara Bank (Rs 3,387 crore).
The 20 nationalised banks cumulatively wrote off bad debts worth Rs 38,674 crore, while the same for SBI Group was Rs 20,873 crore. This has taken the total write offs by PSU banks in 2015-16 to Rs 59,547 crore.
Gangwar said as per the statute, the RBI is prohibited from disclosing the borrower-wise credit information.
Among the other PSU banks, Canara Bank has written off Rs 3,387 crore, followed by Indian Overseas Bank (Rs 2,578 crore), Bank of India (Rs 2,374 crore) and Allahabad bank (Rs 2,097 crore).
