RBI unearths Rs 47,000 crore of bad loans at five biggest state-run banks

NEW DELHI: Bad loans at India’s five biggest state-run banks have come at about Rs 47,000 crore more than the lenders had assessed.

Audits by the Reserve Bank of India (RBI) for the year ended March 31, 2017, revealed the discrepancies, triggering large losses as the banks increased provisions. On adding IDBI Bank, which doesn’t feature among the biggest but got the largest chunk of a public bailout, the figure rises to about more than Rs 56,000 crore.