Massive write-offs and low recovery ails the banking sector: Amit Mitra

Updated: Sep 28 2023 4:05PM

Kolkata, Sep 28 (PTI) Principal chief advisor to West Bengal chief minister Amit Mitra said on Thursday that massive write-offs in the last nine years and low recovery is presently ailing the banking sector of the country.

Speaking at a CII banking session here, Mitra said that in the last nine years from 2014-2023, Rs 14.56 lakh crore has been written off from the books of the banks.

During 2021-22, the written-off amount was Rs 1.75 lakh crore, and subsequently Rs 2.09 lakh crore in the succeeding fiscal.