Business

Lenders recover more than 7.34 lakh million in December 2021 in six and a half years


Between April and December 2021-22, the amount of bank fraud was 648 million.

New Delhi:

Banks have recovered more than 7.34 lakh million in the last six years and in the first six months of this year, the government said in Parliament on Tuesday.

In the last six years and the first six months of this year, banks have made an aggregate recovery of $ 7.34.542 billion in non-performing assets and lost loan accounts, including those reported as fraudulent. State for Finance Bhagwat Karad said this in a reply to Rajya Sabha.

With regard to recovering the amounts of fraud, the minister said that 55,895 million have been recovered in the last six years and in the current year until 31 December 2021, he said.

The Minister said that the Reserve Bank of India in 2016 provided key guidelines on bank fraud and the government has put in place extensive structural and procedural reforms to verify bank fraud.

He added that these systematic and comprehensive verifications of fraud, including the assets of non-performing assets, have led to the emergence of fraud over the years.

These steps have contributed to a significant decrease in the number of frauds from 68,962 million in 2015-16 to 11,583 million in 2020-21.

Between April and December 2021-22, the amount of bank fraud was 648 million, he added.



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