Loan write-offs fall 18% in FY24 to Rs 1.7 lakh crore, recoveries at Rs 46,000 crore

Loan write-offs by Indian banks fell by 18% in FY24 to ₹1.7 lakh crore, while recoveries amounted to ₹46,000 crore. The decline in write-offs is attributed to improved asset quality and stricter recovery measures. Despite the reduction, the volume of write-offs remains significant, highlighting ongoing challenges in the banking sector related to non-performing assets (NPAs). The data underscores the importance of robust credit risk management and the need for continued efforts to improve loan recovery rates.