Bad Loans

Finance Minister Nirmala Sitharaman said today that banks have recovered more than Rs 10 lakh crores from bad loans between 2014 and 2023, as part of the reforms process implemented by the Modi government.

Banks have written off Rs 10.57 lakh crore during the last five financial years, of which Rs 5.52 lakh crore was in respect of loans pertaining to large industries, the government informed the Parliament today.

Banks have written off bad loans worth Rs 14.56 lakh crore in the last nine financial years starting 2014-15, Parliament was informed on Monday.

The State Bank of India (SBI) on Friday reported its highest-ever quarterly profit at Rs 16,884 crore in the April-June quarter of 2023-24 -- a nearly three-fold jump over Rs 6,068 crore in the year-ago period -- buoyed by a steep fall in bad loans and higher interest income.

State-owned Punjab National Bank (PNB) on Wednesday posted a four-fold surge in standalone net profit at Rs 1,255 crore in the April-June quarter, mainly due to decline in bad loans and improvement in interest income.

Private sector lender Axis Bank on Wednesday posted a 40.5 per cent increase in standalone net profit at Rs 5,797 crore in the April-June quarter, mainly due to decline in bad loans and improvement in interest income.

Google took action against over 3,500 loan apps in India in 2022 for violating Play Store policy requirements, the company said on Thursday. Google said that overall it prevented 1.43 million policy-violating apps from being published on Google Play banning 1,73,000 bad accounts preventing over $2 billion (nearly Rs. 16,350 crore) in fraudulent and...

"We cannot have a system where we have a 20% growth year-on-year on MSME and retail and then an NPA (ratio) which will remain below 1% for retail," Ashwini Kumar Tiwari, managing director at State Bank of India said.

Yes Bank reported a surprise 80% plunge in quarterly profit on Saturday as provisions for bad loans increased.

Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday.

RBI has informed that borrower-wise information on written off loan accounts is not maintained by it, Minister of State for Finance Bhagwat Karad said.

The deal, the largest sale of bad loans in the Indian banking sector yet, comes more than two years after the central bank stepped in to take control of the lender after a dramatic rise in toxic assets alarmed investors and depositors.

"We have saved Indian bank from 3 lakh crore NPAs," Road Transport and Highways Minister Nitin Gadkari told the members.

"Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards," Nirmala Sitharaman said.

State-owned Bank of Baroda on Saturday reported a jump of 59 per cent in its net profit to Rs 3,313 crore for the second quarter ended September on the back of a decline in bad loans and rise in interest income.

Finance Minister Nirmala Sitharaman said today that banks have recovered more than Rs 10 lakh crores from bad loans between 2014 and 2023, as part of the reforms process implemented by the Modi government.

Banks have written off Rs 10.57 lakh crore during the last five financial years, of which Rs 5.52 lakh crore was in respect of loans pertaining to large industries, the government informed the Parliament today.

Banks have written off bad loans worth Rs 14.56 lakh crore in the last nine financial years starting 2014-15, Parliament was informed on Monday.

The State Bank of India (SBI) on Friday reported its highest-ever quarterly profit at Rs 16,884 crore in the April-June quarter of 2023-24 -- a nearly three-fold jump over Rs 6,068 crore in the year-ago period -- buoyed by a steep fall in bad loans and higher interest income.

State-owned Punjab National Bank (PNB) on Wednesday posted a four-fold surge in standalone net profit at Rs 1,255 crore in the April-June quarter, mainly due to decline in bad loans and improvement in interest income.

Private sector lender Axis Bank on Wednesday posted a 40.5 per cent increase in standalone net profit at Rs 5,797 crore in the April-June quarter, mainly due to decline in bad loans and improvement in interest income.

Google took action against over 3,500 loan apps in India in 2022 for violating Play Store policy requirements, the company said on Thursday. Google said that overall it prevented 1.43 million policy-violating apps from being published on Google Play banning 1,73,000 bad accounts preventing over $2 billion (nearly Rs. 16,350 crore) in fraudulent and...

"We cannot have a system where we have a 20% growth year-on-year on MSME and retail and then an NPA (ratio) which will remain below 1% for retail," Ashwini Kumar Tiwari, managing director at State Bank of India said.

Yes Bank reported a surprise 80% plunge in quarterly profit on Saturday as provisions for bad loans increased.

Banks have written off Rs 11.17 lakh crore bad loans from their books in the last six years till financial year 2021-22, Parliament was informed on Tuesday.

RBI has informed that borrower-wise information on written off loan accounts is not maintained by it, Minister of State for Finance Bhagwat Karad said.

The deal, the largest sale of bad loans in the Indian banking sector yet, comes more than two years after the central bank stepped in to take control of the lender after a dramatic rise in toxic assets alarmed investors and depositors.

"We have saved Indian bank from 3 lakh crore NPAs," Road Transport and Highways Minister Nitin Gadkari told the members.

"Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards," Nirmala Sitharaman said.

State-owned Bank of Baroda on Saturday reported a jump of 59 per cent in its net profit to Rs 3,313 crore for the second quarter ended September on the back of a decline in bad loans and rise in interest income.