SBI writes off Rs 76,600 crore of 220 defaulters, RTI query reveals
CNBC TV18 October 10, 2019 Similarly, Central Bank of India and Indian Overseas Bank had 4 defaulters each, owing more than Rs 500 crore when their loans were written off. The data has been accessed by the CNN-News18 through a series of RTI applications, following the Supreme Court judgments that directed the RBI to disclose relevant information on the NPAs and bad debts under the RTI Act. India’s largest bank, State Bank of India (SBI) has written off bad loans worth Rs 76,600 crore of 220 defaulters, who owed more than Rs 100 crore each. As on March 31, 2019, the SBI has declared as unrecoverable outstanding worth Rs 37,700 crore that 33 borrowers, with loans of Rs 500 crore and more, owed to it. In a first, the latest information, furnished by the RBI to CNN-News18 under the Right To Information Act, has disclosed the bank-wise break up where loans more than Rs 100 crore and Rs 500 crore were written off by the banks as on March 31, 2019. A total of Rs 2.75 lakh cror...