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Loans worth Rs 8 lakh crore written off by Indian banks in the last decade

In its latest Trend and Progress report, the RBI said that the decline in gross NPAs in the banking system was largely aided by loan write-offs. DINESH UNNIKRISHNAN   DECEMBER 31, 2020 / 08:31 AM IST RBI Indian banks wrote off loans worth around Rs 8,83,168 crore in the last ten years, a significant chunk of which came from government-owned banks, the latest data from the Reserve Bank of India shows. Of this, public sector banks (PSBs) alone wrote off Rs 6,67,345 crore worth loans since 2010. This is about 76 percent of the total written-off loans in the decade, while private banks wrote off loans worth Rs 1,93,033 crore constituting about 21 percent of the total chunk. Foreign banks wrote off Rs 22,790 crore loans or 3 percent of the total write-off, the RBI data showed. In the financial year 2019-2020 alone, banks wrote off a total of Rs 2,37,206 crore or about a quarter of the total loan write-offs in the last one decade. Of this, Rs 1,78 lakh crore was by PSBs and Rs53, 949 crore b
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In his book  How to Be a Dictator: The Cult of Personality in the Twentieth Century , the historian Frank Dikotter underlined the concept of common subordination. “ There were many strategies for a dictator to claw his way to power and get rid of his rivals ,” Dikotter wrote. “ There were bloody purges, there was manipulation, there was divide and rule to name only a few. But in the long run the cult of personality was the most efficient .” Dikotter noted that “ the cult debased allies and rivals alike, forcing them to collaborate through common subordination. Most of all, by compelling them to acclaim him before the others, a dictator turned everyone into a liar .” 

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