Bad loans worth Rs 10 lakh cr were written off by Indian banks in past 5 years, says Finance Minister
Image Credit: Rediff
In the past year, India has seen cases of loan recovery agents using intimidation against common borrowers and even an incident where a woman was runover by a tractor. But at the same time, bad loans unlikely to be repaid are written off by banks as a regular practice to clean up their account books. According to the Finance Minister, Indian banks have written off bad loans worth Rs 10 lakh in the past five years alone.