The article exposes systemic corruption and financial mismanagement in India’s banking sector, highlighting massive loan write-offs totaling ₹12.3 lakh crore over a decade, primarily benefiting corporate defaulters. Despite these write-offs, recoveries remain abysmally low, raising concerns about regulatory oversight and political complicity. The top wilful defaulters owe nearly ₹2 lakh crore, with key figures like Mehul Choksi escaping accountability. The report emphasizes the urgent need for transparency, accountability, and reform to protect public funds from systemic exploitation.