The loan write-off of public sector banks stood at Rs 42,035 crore in the first six months of the current fiscal, Parliament was informed on Monday.

During the April-September period, the public sector banks recovered Rs 37,253 crore of bad loans.

For the previous full-fiscal, state-run banks had written off loans worth Rs 1.14 lakh crore. This was lower than Rs 1.18 lakh crore in the year-ago period. 

During the April-September period of the current financial year, State Bank of India (SBI) wrote off loans worth Rs 8,312 crore, Punjab National Bank Rs 8,061 crore, Union Bank of India Rs 6,344 crore and Bank of Baroda Rs 5,925 crore. 

"Such write-off does not result in waiver of liabilities of borrowers and therefore, it does not benefit the borrower. The borrowers continue to be liable for repayment and banks continue to pursue recovery actions initiated in these accounts through various recovery mechanisms available to them," Minister of State for Finance Pankaj Chaudhary said.