Indian banks wrote off substantial loans totaling Rs 12.3 lakh crore over the past decade. Public sector banks led write-offs, particularly in recent years. However, write-offs declined to Rs 1.7 lakh crore in FY24. Banks are actively pursuing loan recovery through various measures. Despite write-offs, public sector banks reported record profits in FY24, reaching Rs 1.41 lakh crore.
from Banking/Finance-Industry-Economic Times https://ift.tt/8I1SVWu
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