The public sector banks in India have written off loans of more than Rs.1.14 lakh crores during 2013-15 alone as per an RTI reply received from the Reserve Bank of India. Out of this, more than Rs. 40,000 crore is from SBI alone. 29 Banks have written off such NPAs. The RBI refused to provide even the details of the loans taken of more than Rs. 100 crores.
The non-repaid loans which are called Non-Performing Assets(NPA) have been increasing. These are mainly loans of large amounts coming to hundreds of crores of rupees mostly given to big corporates and business concerns. While the small amount loans of a few lakhs or so are recovered through coercive measures from the common people, the big sharks are let off. The government also keeps silence. The common men’s savings are gifted to the corporates. The PSUs are let to bleed. This injustice has to be put an end to.