Indian banks wrote off over $121 bln loans in five years - govt - Reuters India

MUMBAI, Dec 19 (Reuters) - Indian banks person written disconnected loans worthy implicit 10 trillion rupees ($121.05 billion) successful the past 5 fiscal years successful an effort to cleanable up their equilibrium sheets, according to the national government.

State Bank of India (SBI.NS), the country's largest lender, leads the database with the biggest write-off of 2.04 trillion rupees, the ministry of concern said successful a written reply to a question asked successful the little location of the parliament connected Monday.

Punjab National Bank (PNBK.NS), different state-owned lender, ranked 2nd with a cumulative 923.39 cardinal rupees successful write-offs. Two different nationalist assemblage banks, Oriental Bank of Commerce and United Bank of India, were amalgamated into PNB successful April 2020.

Banks constitute disconnected the loans successful an effort to cleanable up their equilibrium sheets aft mounting speech capable provisions. Once an relationship has been written off, it doesn't amusement arsenic an plus connected the bank's equilibrium sheet, but efforts to retrieve the dues done bankruptcy proceedings oregon merchantability of atrocious loans continue.

The state-owned banks person recovered loans worthy 4.80 trillion rupees successful the past 5 fiscal years, including 1.03 trillion rupees from written-off assets, according to the cardinal slope data, the concern ministry reply pointed out.

Overall, the wellness of Indian banks has improved with gross non-performing plus ratio of scheduled commercialized banks falling to 5.9% successful March 2022, the cardinal slope had said successful its bi-annual work earlier this year. The study besides highlighted that the ratio could diminution further to 5.3% by the extremity of this March.

($1 = 82.6070 Indian rupees)

Reporting by Nupur Anand; Editing by Dhanya Ann Thoppil

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