Banks have written off bad loans worth Rs 46,382 crore during the first six months of 2021-22 Finance Ministry This was informed to the Lok Sabha on Monday. According to reserve Bank of India Guidelines and policy approved by the Bank’s Boards, Non-performing loans, inter alia, in respect of which full provision has been made on completion of four years, shall be removed through write off from the balance sheet of the concerned bank. goes. -Close.

Bhagwati, Minister of State for Finance in a written reply karadi The said banks evaluate/consider the impact of write-offs as part of their regular exercise to clean up their balance sheets, avail tax benefits and optimize capital, as per RBI guidelines and their boards. As per approved policy.

“As per RBI data on global operations, scheduled commercial banks have written off loans worth Rs 46,382 crore during the first six months of the current financial year 2021-22,” he said.

The borrowers of the written-off loans will continue to be liable for repayment and the process of recovery of the amount due from the borrower in the written-off loan accounts is in progress.

In another reply, Karad said that the total outstanding debt regional rural bank (RRBs) stood at Rs 3,34,171 crore at the end of March 2021 as against Rs 2,98,214 crore at the end of March 2020.

He said that RRBs are playing a vital role in purifying agricultural credit, especially for small and marginal farmers and weaker sections of the society.