🦋͜͢͡𝄟⃝ғͥғɪᴄͣɪͫ͢͢͢ꫝʟ _𝓚𝓲𝓬𝓬𝓱𝓪 𝓐𝓴𝓴𝓪🦋
Public sector banks have written off corporate loans worth approximately ₹7.75 lakh crore between FY 2014-15 and 2025-26. Minister of State for Finance Pankaj Chaudhary informed Parliament that only ₹3.10 lakh crore (40%) has been recovered so far. The government refused to disclose the names of 1,249 large borrowers with write-offs exceeding ₹100 crore each, citing confidentiality under Section 45E of the RBI Act. Officials clarified that 'write-off' is a technical accounting process to clean balance sheets and not a loan waiver, as recovery efforts continue. MP Hanuman Beniwal criticized the government for lack of transparency and for ignoring farmer loan waivers while providing relief to large corporates.
https://www.patrika.com/national-news/corporate-loans-worth-7-75-lakh-crore-written-off-government-refuses-to-disclose-company-names-20764276