Properties worth 15K- cr sold off

The Union finance ministry on Friday said that the state- owned banks have attached and auctioned 1.7 lakh properties of defaulters raising mere ` 15,196 crore between FY15 till December 31, 2017. The ministry said that banks are to have a loan recover policy, prepared and duly vetted by their boards.

According to senior government officials, staterun banks have registered 2,108 FIRs against wilful defaulters as on December 31, 2017, filed 8,462 suits for recovery from wilful defaulters, and initiated action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 in respect of 6,962 cases of wilful defaulters.

Indian banks have written off non- performing loans worth ` 2.30 lakh crore for the five- year period ended March 2016.

As per data, around 38 loan accounts of wilful defaulters, amounting to ` 516.04 crore, have been written- off year September banks.

As per RBI’s data, for scheduled commercial banks, in 2012- 13, the combined net profit was ` 91,164 crore and the write- off amount was ` 32,992 crore. In FY17, the combined net profit was ` 43.898 crore, and the write- off amount was ` 1,08,373 crore.

The ministry had said earlier writing- off of NPAs is a regular exercise conducted by banks to clean up their balance sheet, and achieving taxation efficiency. in the financial 2017- 18, till 2017 by staterun