Loans To Vijay Mallya's Kingfisher A Write-Off 'Only In Books,' Says Arun Jaitley | Read

PUBLISHED ON: November 16, 2016 | Duration: 1 min, 47 sec

   
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Around Rs. 1,200 crore in dues owed by Vijay Mallya's collapsed Kingfisher Airlines has been labelled a write-off in the books of India's largest bank, the State Bank of India. The bank said the Kingfisher loan has been moved, along with other bad loans, to a category called AUCA or "Advance Under Collection Accounts", which allows them to take the bad debt off their books while keeping alive the option of pursuing its recovery. Confronting an opposition attack in parliament, Finance Minister Arun Jaitley asserted that the loans had not been waived.
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