Banks Write offs Bad loans of 1.50 lakh upto Dec 2018

By VARINDIA - 2019-04-15

Banks Write offs Bad loans of 1.50 lakh upto Dec 2018

As per the report of RBI, the report is really astonishing, System-wide gross non-performing assets of banks has reached to the figure to touch Rs 10.39 lakh crore in FY18 and the share of public sector banks stood at Rs 8.95 lakh crore.
Now the Banks has to wrote off a sum of Rs 1,56,702 crore of non-performing loans during the nine-month ended December 2018, taking the total loan writeoff to over Rs 7,00,000 crore in the last 10 years. 



With the government stepping in time to bail out banks by recapitalising them with taxpayer money, With this banks have stepped up writeoffs of loans taken by rogue borrowers. They wrote off Rs 1,56,702 crore of non-performing loans during the nine-month ended December 2018, taking the total loan writeoff to over Rs 7,00,000 crore in the last 10 years, as per the report from the Reserve Bank of India (RBI).



Bulk of the writeoffs, or almost four-fifth of the total amount written off in the last 10 years, have accrued in the last five years since April 2014. In its reply to an application filed by the RBI revealed that the total loan  written off in the last five years since April 2014 amounted to  Rs 5,55,603 crore.



Eager to show lower bad loans, banks wrote off Rs 1,08,374 crore in 2016-17 and Rs 161,328 crore in 2017-18. In the first six months of 2018-19, they wrote off Rs 82,799 crore. The quantum of writeoff zoomed to Rs 64,000 crore in the October-December 2018 quarter.


“Now a million dollar question to the RBI, there’s an asset, why are you writing it off? Secondly, when Banks are required to extinguish all available means of recovery before writing off any account fully or partly. It is observed that some banks are resorting to technical writeoff of accounts, which reduces incentives to recover. Banks resorting to partial and technical writeoffs should not show the remaining part of the loan as standard asset,” the RBI had said in an earlier circular to banks.



But neither the banking sector nor the RBI discloses the identity of borrowers whose loans are written off by banks. Technically, any asset which is backed by tangible asset is never written off. You must be subject to scrutiny for these writeoffs. There must be a policy. Sources said, Banks have written off Vijay Mallya’s loan. Another question comes, is there absolutely no dues from Vijay mallays, if it is not cleared the dues then how are they going to recover that money? 



Bank unions have long been demanding the government to make public names of defaulters. “Whereas, the bank is not able to declare the names, since the owners of the bad loans are the big businesses man . 




VARINDIA SIITF
SOUTHERN INDIA INFORMATION TECHNOLOGY FAIR (SIITF) -2018
BANGALURU
VARIndia - Star Nite Awards
STAR NITE AWARDS(SNA) - 2018
NEW DELHI
VARINDIA - OITF
ODISHA INFORMATION TECHNOLOGY FAIR(OITF)-2019
BHUBANESWAR
VARINDIA - WIITF
WESTERN INDIA INFORMATION TECHNOLOGY FAIR(WIITF) - 2019
MUMBAI
 INDUSTRY EVENTS Placeholder image
TechnoBind updates partners on Gemalto's  two factor authentication solutions

TechnoBind updates partners on Gemalto's two factor authentication solutions

TechnoBind has completed 4-city partner event and empowered their partners on Gemalto'...

ThoughtWorks to organize the first multi-city edition of Vapasi in India

ThoughtWorks to organize the first multi-city edition of Vapasi in India

ThoughtWorks will be hosting the first ever multi-city edition of Vapasi – a technic...

AIT hosts Infocomm-Avixa Fellowship Meet in the professional AV sector

AIT hosts Infocomm-Avixa Fellowship Meet in the professional AV sector

Academy for IT (AIT) has organized a Fellowship Meeting for its Members regarding “B...


Copyright varindia.com @1999-2019 - All rights reserved.
Reproduction in whole or in part in any form or medium without express written permission of Kalinga Digital Media Pvt. Ltd. is prohibited.
Other Initiatives : www.mybrandbook.co.in | www.spoindia.org
This website is hosted by ESDS Software Solution Pvt Ltd.

advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription