E-PaperDefaulter News
Who is a wilful defaulter? An explainer as RBI expands the scope
It refers to a borrower who has access to funds to repay his loans but he still chooses not to, and defaults on the repayment of loan. RBI has now released a draft master direction on treatment of wilful defaulters
2 min read22 Sep 2023Here’s How Banks Recovered Bad Loans, NPA’s Worth 10 Lakh Crs In 9 Years | Details
According to the Reserve Bank data, Scheduled Commercial Banks (SCBs) have done aggregate recovery of ₹10,16,617 crore during the last nine financial years. According to the Central Repository of Information on Large Credits the total funded amount outstanding of SCBs to corporate company borrowers, which was classified as NPA and had an amount outstanding of ₹1,000 crore or more was ₹1,03,975 crore as on March 31, 2023.
27 Jul 2023Yes Bank tags Cox & Kings, group cos wilful defaulters
The travel and tourism firm and related entities owe more than ₹1,800 cr to the bank
2 min read14 Oct 2020Congress, BJP spar over banks writing off wilful defaulters’ loans
Congress accuses govt of hiding facts over the write-offs, while BJP says the Oppn was misleading the countryCongress fields former finance minister P. Chidambaram to highlight how the Union government needs to step in to protect the 11 0 million Indians connected to MSMEs
2 min read30 Apr 2020Over ₹68,600 cr loans of wilful defaulters written off: RBI in RTI reply
Mehul Choksi's company Gitanjali Gems tops the list of these defaulters with a whopping amount of ₹5,492 croreVijay Mallya's Kingfisher Airlines figures in the list at number 9
2 min read28 Apr 2020Mint Views | RBI names 30 major willful defaulters; transparency or public shaming?
The RBI has released a list containing names of 30 major wilful defaulters in response to a Right to Information application filed by online news publication 'The Wire'. This may be in sync with demands of greater transparency in matters of public interest. But it also effectively amounts to public shaming of the borrower, which could be a violation of a bank’s fiduciary duty to maintain privacy in third-party business dealings. After all, not all wilful defaulters are guilty of financial wrongdoing. Some defaults may be due to genuine business failure. Such cases deserve a less harsh approach. Mint Views Daily Dispatch brings you scenes from the Mint edit table where ideas are mooted, discussed and debated before they make it to the coveted editorial page of the paper.
21 Nov 2019SBI reveals names of 10 big 'wilful defaulters'
Firms are mostly based in MumbaiDefaulters have been served repeated reminders to clear their outstanding dues
2 min read28 Jun 2019Number of wilful defaulters in nationalised banks up 60% to 8,582 in 5 years
Recovery of ₹7,654 crore has been done from wilful defaulters' accounts during the last five financial years, the FM saidThe minister was replying to a question whether the cases of wilful defaulters of banks have increased during the last five years
1 min read24 Jun 2019Loan defaulters have no right to lawyer’s aid in in-house proceedings: SC
It said that the question whether a default was "intentional, deliberate, and calculated" was the question of factThe apex court allowed the appeal of State Bank of India against the Delhi High Court order
2 min read12 May 2019Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared