Bad Corporate Loans and Their Write-offs Are Draining the Economy | Cracknomics Ep 22

5 months ago 71


#npas #writeoffs #banking #corporateloans #indianeconomy In March 2015, the total NPAs were at Rs. 3.23 lakh crore. This increased to Rs. 10.36 lakh crore in March 2018, the highest in the history of the country. In March 2023, NPAs came down to Rs. 5.71 lakh crore. Did the defaulter companies suddenly decide to pay their dues on time? No, it is only because the banks decided to let them go, and wrote off half of their debts. Contrast this with the life of the common man, whose entire family is haunted to recover the loan amount. Is the system working for the people who deposit their hard earned money in the banks? Or the corporates who get hefty loans at throwaway interest rates? We explore in #Cracknomics this week. Join The Wire's Youtube Membership and get exclusive content, member-only emojis, live interaction with The Wire's founders, editors and reporters and much more. Memberships to The Wire Crew start at Rs 89/month. https://www.youtube.com/channel/UChWtJey46brNr7qHQpN6KLQ/join
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