SBI wrote off bad loans of Rs 20,000 crore in 2016-17

New Delhi Feb 11: The Government of India has released the data of loan write off undertaken by PSBs.The data revealed that SBI wrote off bad loans worth Rs 20,339 crore in 2016-17, the highest among all the public sector banks.All the PSBs Collectively written off Rs 81,683 crore in 2016-17.

The data belongs to the period when the associate banks of State Bank of India (SBI) were not merged with it. Public sector banks' (PSBs) write-off stood at Rs 27,231 crore in 2012-13,

The data had also revealed that "In 2013-14, the state-owned banks wrote off bad loans worth Rs 34,409 crore; Rs 49,018 crore in 2014-15; Rs 57,585 crore in 2015-16 and hitting Rs 81,683 in the fiscal ended March 2017."

"Punjab National Bank had a write-off of Rs 9,205 crore in 2016-17,Bank of India(Rs 7,346 crore), Canara Bank (Rs 5,545 crore) and Bank of Baroda (Rs 4,348 crore)." data indicated. Currently, there are 21 PSBs in India.