Home / Finance / News / Over Rs 68,600-crore loans of wilful defaulters written off, says RBI

Over Rs 68,600-crore loans of wilful defaulters written off, says RBI

The write-offs are technical or prudential in nature, which means the banks have made 100 per cent provisions against the loans

Premium

RBI maintains records of loans above Rs 5 crore given by banks, both fund and non-fund based, in its Central Repository of Information on Large Credits (CRILC) database

Anup Roy Dev Chatterjee Mumbai

5 min read Last Updated : Apr 29 2020 | 2:18 AM IST

Indian banks have written off Rs 68,607 crore of debt of top 50 willful defaulters till September 30, 2019, said the Reserve Bank of India (RBI) in response to a petition filed under the Right to Information (RTI) Act.

The list, however, doesn’t include overseas borrowers as it is exempted from public disclosure.

The write-offs are technical or prudential in nature, which means the banks have made 100 per cent provisions against the loans. However, this doesn’t mean the banks have given up the right to recover the loans. It also doesn’t mean that banks have written off the entire

Topics : PNB Scam Nirmala Sitharaman RBI Loan write-off Mehul Choksi Nirav Modi case Rahul Gandhi

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in