Banks write off `10.57trn in 5 yrs

New Delhi: Banks have written off Rs10.57 lakh crore during the last five financial years, of which Rs5.52 lakh crore was in respect of loans pertaining to large industries, the government informed the Parliament on Tuesday.

“As per RBI data, scheduled commercial banks (SCBs) have written off an aggregate loan amount of Rs10.57 lakh crore during the last five financial years,” Minister of State (MoS) for Finance Bhagwat Karad said in reply to a question in the Rajya Sabha.