You are here: Home » Finance » News » Others
Business Standard

Nearly 5 mn in default of Rs 1 lakh crore to PSBs

Press Trust Of India  |  Thane 

Nearly five million debtors have defaulted in repaying loans totalling a little more than Rs 1 lakh crore from various nationalised banks in the country, a right to information query has revealed.

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

The State Bank of India tops the list, accounting for 32 per cent of the total defaulted amount and 36.3 per cent of the defaulters. A compilation of the information received indicated the debtors numbered 49,24,611 and the defaulted amount was Rs 1,00,155 crore.

The State Bank of India has a total of 17,88,125 defaulters and the amount is Rs 32,534 crore. Punjab National Bank stands second with Rs 9,632 crore, accounting for 0.09 per cent of the total defaulted amount, followed by Union Bank of India with Rs 7,615 crore.

As for the number of defaulters, Union Bank of India is second (5,50,733) after Bank of India, 3,43,220. There are six banks with amount between Rs 3,000 and Rs 4,000 crore, four with between Rs 2,000 and Rs 3,000 crore, seven with between Rs 1,000 and Rs 2,000 crore and three with less than Rs 1,000 crore.

It was revealed there were 969 debtors who defaulted in repaying over Rs 10 crore each, adding up to Rs 27,000 crore. The State Bank of India has 370 non-performing assets, while Bank of India has 139 and Union Bank of India 93.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, July 06 2012. 00:58 IST
RECOMMENDED FOR YOU
.