SBI spent Rs 642 crore in 2021-22: Data

INDORE: The Right to Information (RTI) Act has revealed that between the financial years 2018-19 to 2022-23, 1,13,603 account holders of State Bank of India (SBI) not paid their monthly installments on time. The EMI has not been paid due to which the housing loan of Rs 7,655 crore provided to the people is stuck.

During this period, the country's largest bank has written off bad housing loans worth Rs 2,178 crore of 45,168 such account holders. Neemuch-based RTI activist Chandrasekhar Gaur said on Tuesday that the SBI had provided him the data under the RTI Act. With reference to these figures, he said that the SBI spent Rs 237 crore in 2018-19, Rs 192 crore in 2019-20, Rs 410 crore in 2020-2021, and Rs 642 crore in 2021-22.

In 2022-23, the stuck housing loan of Rs 697 crore was put in a separate account. Experts said that even after the bank writes off the bad loan, the borrower remains liable for repayment and the bank's action to recover the outstanding amount continues.