The countrys largest lender SBI wrote off bad loans worth.....in 2016-17, the highest among all the public sector banks, which had a collective write off of Rs 81, 683 crore for the fiscal.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The country’s largest lender SBI wrote off bad loans worth____in 2016-17, the highest among all the public sector banks, which had a collective write off of Rs 81, 683 crore for the fiscal.

A	Rs 10, 339 crore
B	Rs 20, 339 crore
C	Rs 30, 339 crore
D	Rs 40, 339 crore

Explanation:

Detailed explanation-1: -The bank writes off a loan after the borrower has defaulted on the loan repayment and there is a very low chance of recovery. The lender then moves the defaulted loan, or NPA, out of the assets side and reports the amount as a loss.

Detailed explanation-2: -These associate banks included State Bank of Jaipur, Bikaner, Mysore, Travancore, Hyderabad, and Patiala. The sixth bank was the Bharatiya Mahila Bank. Although the banks were merged, the shares of this associate were termed as individual entities. There are many reasons that were cited for the merger.

Detailed explanation-3: -Since nationalization, SBI has served the needs of Indian economic development through rural-development initiatives and microcredit programs and by financing major agricultural and industrial projects and raising loans for the government.

There is 1 question to complete.