SBI disbursed loans worth Rs 1.45 lakh crore in 9 years- Only Rs 19,678 crore was recovered against Rs 1.45 lakh crore loan disbursement of major defaulters
MUMBAI, India’s largest state-owned lender State Bank of India (SBI) in the nine years from financial year 2013-14 to 2020-21 accounted for half of the major defaulters… Rs. 1,45,248 crores of loans have been arranged. All these loans became bad loans or NPAs.
SBI has in the last nine years non-performing assets of major defaulters worth Rs. 1.45 lakh crore loan against only Rs. 19,678 crore has been recovered. Which is only 13 percent of the total loan written off.
SBI has disclosed this information in a Right to Information (RTI).
As the bank has refused to reveal the name of the loan defaulter citing confidentiality reasons. This clearly indicates that the bank is taking a double standard with its borrowers. Because there is no privacy issue when it comes to small loan holders.
As for small loan defaulters, photos – details with names are published in newspapers, but banks are afraid to reveal the names of big individuals and corporate loan defaulters. Technically, when a bad loan is written off, it is removed from the balance sheet as an asset because the bank does not expect to recover it.
In the last nine years, the bank in the financial year 2019-20 has recorded the highest Rs. Loans of 46348 crores have been lost. So the highest bad loan recovery in financial year 2020-21 was Rs. 6507 crores.