Over the last five financial years, banks have written off loans totaling ₹9.90 lakh crore, according to a report from the Minister of State for Finance, Pankaj Chaudhary. In 2023-24, the write-off was ₹1.70 lakh crore, down from ₹2.08 lakh crore the previous year. The highest write-off occurred in 2019-20 at ₹2.34 lakh crore.
