India's Public Sector Banks Bad Loan Write- Off or Restructured More Than Double In the Last 3 Years

According to the Reserve Bank of India(RBI) data -

The amount of bad loan written off or restructured by PS banks has more than double in the last 3 years ending March 31,2014 to Rs 42447 crore
Reason - Slowdown in the economy which slipped to below 5% in the two consecutive FY's 2012-13 and 2013-14

The loan written off by PS Banks increased from -
20752 crore in 2011-12 to 32992 crore in 2012-13 and further to 42447 crore in 2013-14

Of the 2.40 lakh crore Gross Non-Performing Assets(NPA) reported by Indian Banking System in 2013-14

• 2.16 lakh crore was a/c for by the PS Banks and
• 22738 crore a/c for by the Private sector Banks

as of March 31,2014