Banks' loans write-off: NDA scores three times over UPA, says RTI

Mumbai, Dec 20 In a dubious distinction of sorts, the Bharatiya Janata Party-led NDA rule achieved the highest loans write-off between 2015 and 2019, which is more than three times compared to the figures of bad loans written off during the previous Congress-led UPA regime from 2004-2014, as per an RTI revelation.

During the UPA's 10-year rule, around Rs 2,20,328 crore was written off by various banks, and this figure shot up to Rs 7,94,354 crore during the NDA regime from 2015-2019, resulting in a corresponding reduction in the banks' NPAs.

The data was provided under an RTI query by Pune-based businessman Prafful Sarda, giving some shocking insights into the state of affairs of not only public sector banks, but also those in the private sector and foreign banks.

The RTI reply figures around two-dozen public sector banks, some three-dozen in private sector, nine Scheduled Commercial Banks, and a whopping four-dozen foreign banks, and includes several in each category which have not written off any loans.

Of the loan write-offs in the Congress' decade

( With inputs from IANS )

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