All Scheduled Commercial Banks (SCBs) have written off around Rs 10.6 lakh crore

Current Context: Over the past five years, all Scheduled Commercial Banks (SCBs) in India have written off loans worth nearly Rs 10.6 lakh crore.

• This write-off has helped banks reduce their burden of non-performing assets to a 10-year low of 3.9% of all loan advances.
• The write-off procedure is in line with the guidelines set by the Reserve Bank of India (RBI) and policies sanctioned by the banks.
• Despite the write-offs, the banks continue to pursue recovery actions initiated in written-off accounts through various recovery mechanisms available.

Question:

Q.1 What is the total amount of loans written off by all Scheduled Commercial Banks (SCBs) in India over the past five years?
a. Rs 5.6 lakh crore
b. Rs 10.6 lakh crore
c. Rs 15.6 lakh crore 

d. Rs 20.6 lakh crore