According to data received in response to RTI applications filed by CNN-News18, Indian banking system has lost Rs 1.76 lakh crore in the last three years. It has happened as a result of writing off non-performing loans of 416 defaulters.
Each of these defaulters owed Rs. 100 crore or more.
The replies received by CNN-News18 shows that there has been a constant increase in the amount written off by the scheduled commercial banks since 2014-15. It also shows that the sharpest surge in the amount being written off by the banks was witnessed in 2017 and 2018 i.e. post demonetisation.
A total of Rs 2.17 lakh crore were written off as bad debts by the scheduled commercial banks between 2015 and 2018.
In 2015, loans to the tune of Rs 40,798 crore written off. This amount of bad loans written off increased to Rs 69,976 crore as on March 31, 2016. In 2017, this number further increased to Rs 1, 27, 797 crore. In 2018, a total of Rs 2,17,121 lakh crore were written off as bad debts by the scheduled commercial banks.
The same pattern was observed in the number of unique borrowers which increased from 109 in 2015 to 199 in 2016. In 2017, the number of unique borrowers grew to 343, increasing further to 525 in 2018.