|
|
|
|
'2,426 PSB borrowers wilfully defaulted Rs 1.47 trillion'
|
|
|
|
| Top Stories |
 |
|
|
|
SME Times News Bureau | 18 Jul, 2020
As a part of celebrating the
51th anniversary of bank nationalization, the All India Bank Employees'
Association (AIBEA) on Saturday released a list of 2,426 borrowers who
have wilfully defaulted on their bank loans of over Rs 1.47 trillion.
According
to AIBEA, State Bank of India (SBI) leads the table of 17 public sector
banks with 685 wilful defaulters with an outstanding of Rs 43,887
crore.
The SBI is followed by Punjab National Bank (defaulters
325, default Rs 22,370 crore), Bank of Baroda (defaulters 355, Rs 14,661
crore), Bank of India (defaulters 184, Rs 11,250 crore), Central Bank
of India (defaulters 69, Rs 9,663 crore) and others.
The Punjab & Sind Bank has only six wilful defaulters who defaulted Rs 255 crore.
According to AIBEA, the top 33 defaulters account for Rs 32,737 crore (outstanding and written off).
Releasing
the list AIBEA General Secretary C.H. Venkatachalam in a statement said
the only major problem faced by our banks is the bulging and alarmingly
increasing bad loans by the private companies and corporates.
"If
tough action is taken on them and money is recovered, our banks can
play a bigger role in national development. The present practice of
giving concessions to the defaulters and burdening the banking public
with lesser rate of interest on their savings and increase in service
charges should be stopped," Venkatachalam said.
Included in the
wilful defaulters list are companies like Gitanjali Gems Limited,
Kingfisher Airlines, Ruchi Soya Industries Limited, Winsome Diamonds And
Jewellery Limited, Sterling Biotech Limited and others.
It was
on July 19, 1969, 14 major private banks were nationalised by the Indian
government, from when these banks started chartering a new path with
social orientation, he said.
According to Venkatachalam, the
number of bank branches has grown to 1,56,349 now from 8,200 in 1969.
The priority sector lending is at 40 per cent now as against zero per
cent prior to nationalisation.
He also said the deposits and
advances which were at Rs 5,000 crore and 3,500 crore in July 1969, has
now grown to Rs 138.50 lakh crore and Rs 101.83 lakh crore respectively.
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
₹95.3
|
₹93.6 |
UK Pound
|
₹127.7
|
₹123.7 |
Euro
|
₹110.65
|
₹106.9 |
| Japanese
Yen |
₹59.75 |
₹57.9 |
| As on 24 Jun, 2026 |
|
|
| Daily Poll |
 |
 |
| What’s your biggest challenge with the 45-day payment rule? |
|
|
|
|
|
| Commented Stories |
|
|
|
|
|
|
| |
|
