Banks recover ₹40,400 crore from defaulters

1. According to RBI, in the fiscal ended March 2018, banks recovered ₹40,400 crore worth of bad loans as against ₹38,500 crore recovered in FY17.
2. The various channels through which lenders recovered their bad loans include the Insolvency and Bankruptcy Code (IBC), SARFAESI Act, Debt Recovery Tribunals (DRTs) and Lok Adalats.
3. The amount recovered through SARFAESI was ₹26,500 crore in FY18.