New Delhi: Public sector banks, including SBI, PNB and Central Bank of India, have written off about Rs 34,000 crore, including one-time settlement, during 2013-14, which constitutes 34 percent of the total non-performing assets.
Write-off, including compromise or one-time settlement rose to Rs 34,409 crore in 2013-14 as compared to Rs 27,231 crore in the previous fiscal, Minister of State for Finance Jayant Sinha said in a written reply to the Rajya Sabha.
In percentage terms, the write-off constituted 34.05 percent of the total non-performing asset (NPA) reduction. During 2012-13 this was 37.65 percent.
The written off amount of the State Bank of India (SBI) more than doubled to Rs 13,177 crore during 2013-14 against Rs 5,594 crore in the previous fiscal.
Central Bank of India wrote off Rs 1,995 crore and Punjab National Bank Rs 1,947 crore.
IDBI Bank witnessed nearly four-fold jump to Rs 1,393 crore in write off as against Rs 383 crore a year ago.
In the case of Oriental Bank of Commerce, it was Rs 1,252 crore while Canara Bank wrote off Rs 1,591 crore worth of loans.
