Saturday, July 7, 2012

Rs 100,000 crore default by 49 lakh debtors

Over 49 lakh debtors have defaulted in repaying loans totalling more than Rs one lakh crore from various nationalised banks in the country, an RTI query has revealed.

The information was provided by individual banks to Om Prakash Sharma, an RTI activist and a former National Council member of BJP.

The State Bank of India tops the list accounting for 32 percent of the total defaulted amount and 36.3 per cent of the defaulters.

A compilation of the information received indicated that the debtors numbered 49,24,611 and the defaulted amount was to the tune of Rs 1,00,155 crore.

The State Bank of India has a total of 17,88,125 defaulters and the amount involved is Rs 32,534 crores. Punjab National Bank stands second with Rs 9632 crores in default, accounting for 0.09 percent of the total defaulted amount, followed by Union Bank of India where the debtors have not repaid Rs 7615 crore.

There are six banks where the defaulted amount is between Rs 3000 and Rs 4000 crore, four banks where it is between Rs 2000 and Rs 3000 crore, seven where default is between Rs 1000 and Rs 2000 crore and three with less than Rs 1000 crore.

It was revealed that there were 969 debtors who defaulted in repaying loans over Rs 10 crore each, adding up to around Rs 27,000 crore. 

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