Public sector banks have written off 38 accounts of ₹100 crore and above amounting to about ₹8,000 crore during the nine months of the current fiscal. As against ₹8,033 crore for 2015-16, banks had written off 47 accounts of ₹100 crore and above totalling ₹13,018 crore in 2014-15, Minister of State for Finance Jayant Sinha said in written reply in the Rajya Sabha.
“Non-performing asset accounts are written off for clearing the balance sheet and enhancing profitability after full provisions have been made within the framework of RBI guidelines and board —approved loan recovery policy of the bank concerned,” he said.