Separately, responding to a questionnaire from The Indian Express, ICRA said that write-offs amounted to Rs 1,32,659 crore in 2016-17 and the first six months of 2017-18. This means the the total write-off in the last ten years is now over Rs 3,60,000 crore. Also Read | PSU banks to RBI: Fraud worth Rs 51,000 crore tied to advancesGiven the current trend, the total write-off in fiscal 2018 is estimated to top Rs 1 lakh crore, bankers said. Ten years ago, in 2007-08, loans written off by banks were just Rs 8,019 crore, the RBI said in its reply to an RTI query. The asset quality pain is likely to continue in the near term with Rs 1,70,000 crore of standard restructured advances.

Source: Indian Express December 03, 2017 23:03 UTC