<span style="color: #222222;">Finance Minister Nirmala Sitharaman today asserted that writing off does not mean entirely waiving off money due from NPAs.<br />''<br />''In response to a question by T R Baalu, of DMK, Mrs. Sitharaman informed the Lok Sabha that the writing off the NPAs does not translate to waiving off the amount. She informed the house that as part of the accounting process, banks make a provision for the money which is due from the NPA account.<br />''<br />''The Finance Minister added the pursuit of the defaulter is followed up. She apprised that several public sector banks have got their money back by claiming assets and securities of the defaulter.<br />''<br />''Mrs Sitharaman said money was never obtained from these defaulters to go back to the banks during the UPA rule.<br />''<br />''In reply to supplementaries, the minister said the government has not taken a decision to bring a new law to provide for a legal framework for resolution of financial firms. Mrs. Sitharaman said the Financial Resolution and Deposit Insurance Bill, 2017 (FRDI) Bill was introduced in the Lok Sabha in August 2017 and thereafter was referred to the Joint Committee of Parliament for examination and report thereon. The government has withdrawn the FRDI  Bill in August 2018 for a further comprehensive examination.<br />''<br />''However, the minister said the government has already notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules 2019 on November 2019 to provide a generic framework for insolvency.</span><br />