BusinessIndian Banks Repay More than Rs.7 lakh Crore in 6.5 years say...

Indian Banks Repay More than Rs.7 lakh Crore in 6.5 years say Central Govt

Indian Banks have collected Rs.7.34 lakh crore in loans in the last six-and-a-half years, according to the Union Parliament.

Union Finance Minister Bhagwat Karad today gave a written reply to a question on details including Non Performing Assets bank fraud and weekly loan at the state level.

Non Performing Assets

Over the last 6.5 years, banks have recovered Rs.7 lakh 34 thousand 542 crore in NPA, discounts and fraudulent loans. Of this, Rs.55,895 crore has been collected till December 2021 in the current financial year.

Bank frauds have been largely prevented by the rigid guidelines, regulations and institutional reforms issued by the Reserve Bank in 2016.

Bank fraud has come down from Rs.68,962 crore in 2015-16 to Rs.11,583 crore in 2020-21. During the April-December period of the 2021-22 financial year, bank fraud amounted to Rs.648 crore.

During the current financial year, a maximum of 642 frauds have taken place at Kotak Mahindra Bank, amounting to Rs.1 lakh and above. This was followed by 518 scams at ICICI Bank and 317 scams at IndusInd Bank.

In addition, bank fraud at Kotak Mahindra Bank continues to increase. The number of frauds has increased from 135 in 2017 to 826 in 2021. Bank fraud increased to 642 in the first nine months of the current financial year. There were 235 scams at Axis Bank, 159 scams at SBI Bank and 151 scams at HTCFC Bank.

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