Indian public sector banks wrote off ₹42,035 crore in loans during the first half of the current fiscal year, with SBI, PNB, Union Bank, and Bank of Baroda leading the way. The finance ministry clarified that these write-offs don't waive borrower liabilities, and recovery efforts continue. Total write-offs for 2023-24 reached ₹1.14 lakh crore, slightly lower than the previous year.
