Banks write off bad loans worth Rs 2.09 lakh crore in 2022-23: According to the RBI’s data during the financial year 2022-23, banks wrote off bad loans amounting to over Rs 2.09 lakh crore, contributing to a total loan write-off of Rs 10.57 lakh crore by the banking sector over the past five years.
Daily Current Affairs Quiz: July 2023
This loan write-off to bring down gross non-performing assets or defaulted loans to a 10-year low of 3.9 percent of advances by March 2023
According to RBI, banks have written off a total of Rs 15,31,453 crore since FY2012-13.
