PSU banks write off over Rs 1.06 lakh crore in last 5 years
The amount of bad loans written off or restructured by the PSU banks has more than doubled in the last three years ending March 2014 to Rs 42,447 crore.
The rise in bad loans is being attributed to slowdown in the economy which slipped to below 5 per cent in the two consecutive financial years — 2012-13 and 2013-14.
The loans written off/compromised by PSU banks soared from Rs 20,752 crore in 2011-12 to Rs 32,992 crore in 2012-13 and further to Rs 42,447 crore in 2013-14.
LT COL SIDDARTH BARVE