Government banks wrote off â¹81,683 crore loans in 2016-17
Loans worth â¹81,683 crore were written-off by public sector banks in 2016-17, Finance Minister Arun Jaitley has said. Out of this, India's largest lender SBI wrote off loans amounting to â¹20,339 crore. Jaitley said that writing-off of loans is done for tax benefit as well as capital optimisation, and that borrowers of such loans continue to be liable for repayment.