Indian banks write off Rs 1.7 trillion in loans in FY24, shows govt data

Quick Summary:

In his response, Chaudhary said, “Such write-offs do not result in the waiver of liabilities of borrowers and therefore, write-offs do not benefit the borrower.

Indian banks write off Rs 1.

The borrowers continue to be liable for repayment, and banks continue to pursue recovery actions initiated in these accounts.

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Category: BusinessFinance

Markets: India

Topics: Bad loans Loans Banks

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-26 @ 19:36:54 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 273 words

Reading Time: 2 minutes read

Sentences: 13 lines

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News ID: 23889853

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