News > Banks write off Rs 9.90 lakh crore loans over past five years

Banks write off Rs 9.90 lakh crore loans over past five years

Minister of State for Finance Pankaj Chaudhary said that the highest write-off—Rs 2.34 lakh crore—occurred in FY20, which subsequently fell to Rs 2.02 lakh crore in FY21 and Rs 1.74 lakh crore in FY22. According to the RBI and policy approved by the banks' boards, NPAs, including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, he said.