Yesterday RBI has Written off Over 68600 Crore Loans of Wilful defaulters
Find Below List of Top 50 Wilful Defaulters and their sum of funded
advances
Before saying anything to anyone
about this topic First of all you need to understand that what is Write off and Waive off?
Write-off: Write
off is a tool used by the banks to make their balance sheet look clean. The banks
call for the write off of a loan borrowed by a defaulter when it thinks the
chances of recovery are almost zero and its assets are non-performing. The loan
thus is written off does not mean the banks
will stop their trials for recovery. The main idea behind doing this is to
utilize the money, in doing its business, which was kept aside initially at the
time of lending the money to its borrowers.
Waive off: It is the cancellation of recovery of
refraining from claiming the dues. In similar terms, banks will completely give
up on such loans and no recovery will make. Waiving a loan is a relief that is normally provided to farmers,
who will be in distress due to natural calamities, poor monsoon, crop failure,
floods etc.