PSBs flag 1,629 wilful defaulters with dues over ₹1.62 trillion: FinMin

Public sector banks have identified 1,629 wilful defaulters with outstanding loans totalling Rs 1.62 lakh crore as of March 31, 2025, according to the Union Finance Ministry

The Union Finance Ministry on Tuesday said that public sector banks (PSBs) have classified 1,629 unique corporate borrowers as wilful defaulters, with outstanding loans totalling ₹1.62 trillion as of March 31, 2025.

 

In a written reply in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary informed the data from the Central Repository of Information on Large Credits (CRILC). He further added that the list of defaulters, excluding overseas borrowers, is updated monthly and made publicly accessible through the websites of registered credit information companies such as CIBIL, Experian, Equifax, and CRIF High Mark.

 

Chaudhary further added that the wilful defaulters and large defaulters, dated July 30, 2024, cases of wilful defaults at overseas branches of banks incorporated in India shall be reported to credit information companies, if such disclosure is not prohibited under the laws of the host country. Further, as per the information received from the Directorate of Enforcement, nine accused who fled the country have been declared Fugitive Economic Offenders under the provisions of the Fugitive Economic Offenders Act, 2018 (FEOA).

 

“In these cases, as of now, assets amounting to ₹15,298.27 crore (approx.) have been confiscated under PMLA and assets amounting to ₹749.87 crore (approx.) have been confiscated under FEOA. Further, nine accused have been convicted in these cases under the provisions of PMLA,” said the Minister of State for Finance.

 

The Minister further said that comprehensive measures have been taken to deter wilful default and to recover NPAs, including those pertaining to wilful defaulters.

 

“Wilful defaulters are not sanctioned any additional facilities by banks or financial institutions, and their units are debarred from floating new ventures for five years. Further, wilful defaulters and companies with wilful defaulters as promoters/directors have been debarred from accessing capital markets to raise funds,” he said.

 

He further added that the bar on additional credit facilities to a wilful defaulter or any entity with which a wilful defaulter is associated shall be effective for a period of one year after the name of the wilful defaulter has been removed from the List of Wilful Defaulters (LWD) by the lender.