Indian banks write off bad loans worth ₹1.15 lakh crore in 9 months of FY21

Banks have written off bad loans worth ₹1.15 lakh crore during first nine months of 2020-21, as per RBI, MoS Finance Anurag Singh Thakur said. During 2018-19 and 2019-20, banks wrote off loans of ₹2.36 lakh crore and ₹2.34 lakh crore respectively, he added. As of December 31, 2020, bad loans declined by ₹2.79 lakh crore to ₹7.56 lakh crore.