State-run banks are likely to launch a special drive to recover written-off loans after the government nudged them to fast-track proceedings against errant borrowers.
A senior official told that the government has asked public sector banks (PSBs) to focus on written-off loans and try to recover at least ₹2 lakh crore in this financial year.
PSBs wrote off bad loans of Rs 8.16 lakh crore from their books in the six years to 2021-22. In the first nine months of 2022-23, PSBs wrote off ₹90,958 crore of bad loans, as per the latest data.
Source:
Economic Times
