04 December 2017

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India state owned banks Waive off Rs. 55,356 crores of defaulters without suicides

India state owned banks Waive off Rs. 55,356 crores of defaulters without suicides
Indian farmers commit suicide after suicide, but they do not get a loan waiver, but same banks and same governments write off loans or rich and mighty without declaring the names of such people to tax payers of India.

Always remember you are the owner of government money.

PSU banks write off Rs 55,356 crore in six months
India’s state-owned banks have written off loans worth Rs 55,356 crore in the first six months of fiscal 2017-18, according to data compiled by credit rating agency ICRA

The write-off in the last six months 54% higher than the Rs 35,985 crore written off in the same period last year.

ICRA told media that write-offs amounted to Rs 1,32,659 crore in 2016-17 and the first six months of 2017-18.

As per media records the total write-off that is the waiving of loans of defaulters in fiscal 2018 is estimated to top Rs 1 lakh crore.

PSU banks wrote off Rs 25,573 crore in the June quarter and Rs 29,783 crore in the quarter to September, the highest in any quarter, ICRA said

Below is Loan Waiver year wise

Loan Waiver, Loan Write-off year – 2014-15
Amount in crore – 49,018

Loan Waiver, Loan Write-off year – 2015-16
Amount in crore – 57,585

Loan Waiver, Loan Write-off year – 2016-17
Amount in crore – expected minimum - 77,123

Loan Waiver, Loan Write-off year – 2017-18
Amount in crore –expected minimum - 55,356

Do you know How many farmers got the benefit of above waiving of loans?
Not  a single farmer, its loan waiver for corporate defaulters.

Do you think Only rich and mighty get benefits of such waiving of loans?

Even secrecy is maintained so we, Indian citizens do not even know the names of such default makers.

Reality views by sm –

Monday, December 4, 2017

Tags – Loan Write off Loan Waive off India Bank


Kirtivasan Ganesan December 06, 2017  

Do not misinform. Loan waiver is as per policies only.
Farmers do not get affected directly by loan of somebody else.
Only thing is overall it is happening. Loan waivers.

SM December 06, 2017  

@Kirtivasan Ganesan
thank you for comment on my post regarding loan waiver.
Please explain what is misinformation as mentioned in comment.

Kirtivasan Ganesan December 07, 2017  

Ï am sorry. "Suicide" term seemed unnecessary.

SM December 07, 2017  

@Kirtivasan Ganesan
Thanks This is the era of fake news and fake information is ruling the social media.
That is the reason I ask you about it.
Regarding facts I try to check from multiple sources and only then I accept and mention it.
Just to high light the problems of farmers i used term suicide.
Farmers suicide is a reality and big problem in India.