The Crossbill News Desk
Bank of Baroda has technically written off loans worth Rs 35,715 crore involving borrowers with outstanding dues of Rs 100 crore and above over six financial years, while recovering Rs 9,946 crore from these accounts, according to information obtained under the Right to Information Act.
The figures, disclosed in response to an RTI application filed by Pune-based activist Vivek Velankar, cover the period from FY20-21 to FY25-26. The recovery reported by the state-run bank amounts to less than 28% of the total value of the loans technically written off during this period, reported Moneylife.
The bank also disclosed that it had taken write-offs or haircuts amounting to Rs 7,817 crore while settling large loan accounts during the same six-year period. However, it declined to reveal the identities of the borrowers whose loans were written off or settled after substantial haircuts, invoking various exemptions under the RTI Act.
BoB’s RTI reply, dated July 30, 2026, was issued in response to Velankar’s application dated June 21, 2026. The information supplied by the bank relates to loan accounts involving outstanding amounts of Rs 100 crore and above.
The largest technical write-offs were recorded in FY20-21 and FY21-22, when Rs 11,916 crore and Rs 11,261 crore, respectively, were removed from the bank's books.
The bank described these as ‘technical write-offs’, a process under which a loan is written off for accounting purposes without necessarily ending efforts to recover the outstanding amount from the borrower.
However, the recovery figures disclosed by the bank show that only Rs 9,946 crore had been recovered cumulatively from accounts involving more than Rs 100 crore in dues, against technical write-offs amounting to Rs 35,715 crore.
“The reply I received has been deeply shocking,” he said, pointing out that Bank of Baroda had written off Rs 35,715 crore in loans involving large borrowers while recovering only Rs 9,946 crore.
The RTI application had also sought details of large loan accounts settled through the National Company Law Tribunal or other forums after banks accepted haircuts. Velankar had sought account-wise information, including the original loan amount and the amount ultimately forgone to arrive at a settlement.
While refusing to provide borrower-wise details, the bank disclosed that Rs 7,817 crore had been written off as haircuts in the settlement of technically written-off accounts involving outstanding dues of more than Rs 100 crore between FY20-21 and FY25-26.
The highest haircut figure was recorded in FY21-22 at Rs 3,132 crore. This was followed by Rs 2,331 crore in FY20-21 and Rs 1,831 crore in FY22-23.
“It must be noted that these cases were filed before the NCLT precisely to recover money from wilful defaulters. The bank ultimately had to waive thousands of crores in the process – and yet it continues to shield the identities of these very defaulters,” he said.
A major part of Velankar's RTI application concerned the identities of borrowers whose large loans had been technically written off. The bank, however, refused to disclose their names or provide account-wise details.
For the request relating to technical write-offs, Bank of Baroda cited Section 8(1)(j) of the RTI Act, saying the information constituted personal and third-party information and that its disclosure would amount to an unwarranted invasion of privacy.
The bank also withheld borrower-wise details of accounts settled through the NCLT or other mechanisms after accepting haircuts, citing Sections 8(1)(d), 8(1)(e) and 8(1)(j) of the RTI Act.
As a result, while the RTI response provides an overall picture of the scale of technical write-offs, recoveries and haircuts involving loans of Rs 100 crore and above, it does not identify the companies or individuals behind these accounts.
The information sought by Velankar had covered a longer period, but the bank said that the requested data was not readily available in the form sought. It invoked Section 7(9) of the RTI Act, stating that compiling and collating the information would disproportionately divert the resources of the bank.
Nevertheless, it provided year-wise aggregate data available from FY20-21 onwards for technical write-offs, recoveries and haircuts involving accounts with outstanding dues of Rs 100 crore and above.
The RTI response itself does not establish whether any of the loans were sanctioned improperly, whether the borrowers concerned were wilful defaulters, or whether any action was taken against bank officials or directors. Nor does the information provide account-wise details that would allow the specific cases to be independently examined.
But the aggregate figures reveal the magnitude of losses and settlements involving Bank of Baroda's largest loan accounts.
Over the six financial years covered by the response, the bank reported Rs 35,715 crore in technical write-offs involving loans above Rs 100 crore, against cumulative recoveries of Rs 9,946 crore, while also reporting Rs 7,817 crore in write-offs or haircuts linked to the settlement of such accounts. The identities of the borrowers behind these transactions, however, remain undisclosed.
The figures, disclosed in response to an RTI application filed by Pune-based activist Vivek Velankar, cover the period from FY20-21 to FY25-26. The recovery reported by the state-run bank amounts to less than 28% of the total value of the loans technically written off during this period, reported Moneylife.
The bank also disclosed that it had taken write-offs or haircuts amounting to Rs 7,817 crore while settling large loan accounts during the same six-year period. However, it declined to reveal the identities of the borrowers whose loans were written off or settled after substantial haircuts, invoking various exemptions under the RTI Act.
BoB’s RTI reply, dated July 30, 2026, was issued in response to Velankar’s application dated June 21, 2026. The information supplied by the bank relates to loan accounts involving outstanding amounts of Rs 100 crore and above.
The largest technical write-offs were recorded in FY20-21 and FY21-22, when Rs 11,916 crore and Rs 11,261 crore, respectively, were removed from the bank's books.
The bank described these as ‘technical write-offs’, a process under which a loan is written off for accounting purposes without necessarily ending efforts to recover the outstanding amount from the borrower.
However, the recovery figures disclosed by the bank show that only Rs 9,946 crore had been recovered cumulatively from accounts involving more than Rs 100 crore in dues, against technical write-offs amounting to Rs 35,715 crore.
“The reply I received has been deeply shocking,” he said, pointing out that Bank of Baroda had written off Rs 35,715 crore in loans involving large borrowers while recovering only Rs 9,946 crore.
The RTI application had also sought details of large loan accounts settled through the National Company Law Tribunal or other forums after banks accepted haircuts. Velankar had sought account-wise information, including the original loan amount and the amount ultimately forgone to arrive at a settlement.
While refusing to provide borrower-wise details, the bank disclosed that Rs 7,817 crore had been written off as haircuts in the settlement of technically written-off accounts involving outstanding dues of more than Rs 100 crore between FY20-21 and FY25-26.
The highest haircut figure was recorded in FY21-22 at Rs 3,132 crore. This was followed by Rs 2,331 crore in FY20-21 and Rs 1,831 crore in FY22-23.
“It must be noted that these cases were filed before the NCLT precisely to recover money from wilful defaulters. The bank ultimately had to waive thousands of crores in the process – and yet it continues to shield the identities of these very defaulters,” he said.
A major part of Velankar's RTI application concerned the identities of borrowers whose large loans had been technically written off. The bank, however, refused to disclose their names or provide account-wise details.
For the request relating to technical write-offs, Bank of Baroda cited Section 8(1)(j) of the RTI Act, saying the information constituted personal and third-party information and that its disclosure would amount to an unwarranted invasion of privacy.
The bank also withheld borrower-wise details of accounts settled through the NCLT or other mechanisms after accepting haircuts, citing Sections 8(1)(d), 8(1)(e) and 8(1)(j) of the RTI Act.
As a result, while the RTI response provides an overall picture of the scale of technical write-offs, recoveries and haircuts involving loans of Rs 100 crore and above, it does not identify the companies or individuals behind these accounts.
The information sought by Velankar had covered a longer period, but the bank said that the requested data was not readily available in the form sought. It invoked Section 7(9) of the RTI Act, stating that compiling and collating the information would disproportionately divert the resources of the bank.
Nevertheless, it provided year-wise aggregate data available from FY20-21 onwards for technical write-offs, recoveries and haircuts involving accounts with outstanding dues of Rs 100 crore and above.
The RTI response itself does not establish whether any of the loans were sanctioned improperly, whether the borrowers concerned were wilful defaulters, or whether any action was taken against bank officials or directors. Nor does the information provide account-wise details that would allow the specific cases to be independently examined.
But the aggregate figures reveal the magnitude of losses and settlements involving Bank of Baroda's largest loan accounts.
Over the six financial years covered by the response, the bank reported Rs 35,715 crore in technical write-offs involving loans above Rs 100 crore, against cumulative recoveries of Rs 9,946 crore, while also reporting Rs 7,817 crore in write-offs or haircuts linked to the settlement of such accounts. The identities of the borrowers behind these transactions, however, remain undisclosed.
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