BANKLOOT
When it comes to writing off bad loans, especially of big defaulters, all public sector banks (PSBs) follow the same strategy and get tax benefits too.

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Canara Bank is the latest to join other big public sector banks (PSBs) that have written off bad loans worth thousands of crores of rupees and recovered paltry amounts from big defaulters.

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Following the footsteps of other large banks from the public sector, Central Bank of India too wrote off Rs17239.74 crore and recovered a paltry 7% or Rs1205.92 crore over the past eight financial years from big defaulters.

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Indian Overseas Bank (IOB) is the latest to join other big banks that have written off bad loans worth thousands of crores and recovered paltry amounts from defaulters.

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Punjab National Bank (PNB) is yet another public sector lender to written off a massive Rs44,565.59 crore as technical write offs in a four year period from FY2016-17 to FY19-20. As against these write offs, the recover was just Rs12,027.97 crore.

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IDBI Bank Ltd, which has received multiple bailouts in the past few years is the latest to join the list of lenders that wrote off tens of thousand crore rupees as bad loans.

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The malaise of big loan write-offs and poor recovery extends across public sector banks, as is evident from the Rs26,072 crore bad loan written off by Union Bank of India (UBI) in the past eight years.

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Bank of Maharashtra (BoM) has written off bad loans of over Rs7,402 crore in the past years, while recovering a paltry 4% in over eight years from recovery efforts.

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Bank of Baroda (BoB) is the second public sector bank to write off bad loans of several thousand crores, following the foot steps of State Bank of India (SBI), which wrote of Rs1.23 lakh crore and recovered just over 7% over the past eight financial years

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Moneylife Digital Team 18 July 2020
Demanding to stop present practice of giving concessions to the defaulters and burdening the banking public with lesser rate of interest on their savings and increasing in service charges, a leading bank union has shared list of top 2,426 wilful defaulters, who together owe over Rs1.47 lakh crore to banks.

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While the banking regulator and the union government have been busy clarifying that bad loans written off does not mean a waiver, documents procured by Vivek Velankar from State Bank of India (SBI) reveals miniscule recovery of these bad debts.

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IANS 27 April 2020
The Reserve Bank of India (RBI) has admitted to writing off a staggering amount of Rs 68,607-crores due from 50 Top Wilful Defaulters, including absconding diamantaire Mehul Choksi, according to a reply under RTI.

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Central Information Commissioner (CIC) Prof Sridhar Acharyulu has directed the finance ministry, the ministry of statistics & implementation and the Reserve Bank of India (RBI) to make public, the names of those bank loan defaulters whose unpaid loans amount to Rs50 crore and above.

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The government is also contemplating special action against 91 wilful defaulters seeking to prevent them from leaving the country

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How many organisations turned a blind eye to Vijay Mallya's bad loans

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Prachi Narayan 15 January 2015
The Revised Guidelines of RBI give untrammelled powers of judicial review on the banks that surely lack judicial skills

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