Wilful defaults in India cross Rs 1.5 lakh crore in 2018-19
Updated : July 03, 2019 10:02 AM IST
The State Bank of India saw the highest number of wilful defaults at Rs 46,158 crore, while Punjab National Bank stood second at Rs 25,090 crore, with Bank of India at Rs 9,890 crore, finance minister Nirmala Sitharaman said in a written reply to queries in the parliament on Tuesday.
According to data from the Reserve Bank of India (RBI), gross loans and advances in state-run banks came in at Rs 63,820 crore, as of March 31, 2019.
The government has debarred wilful defaulters and companies with wayward borrowers from accessing capital markets to raise funds or participate in the insolvency resolution process.