Wilful defaults Rs 62,000 crore higher than before Covid pandemic

Public sector banks accounted for 77.4 per cent of the total amount outstanding at Rs 5.3 trillion as of June

Sachin P Mampatta Mumbai

Banks saw an of Rs 3,613.28 crore in what wilful defaulters owed them in the quarter

The Indian banking system's latest record on wilful defaulters shows a Rs 62,970 crore, or around 10 per cent, increase in the additional amount outstanding since the pandemic began. The total outstanding amount increased to Rs 6.85 trillion in June from Rs 6.22 trillion in December 2019 (see chart 1), shows a Business Standard analysis of numbers from the TransUnion CIBIL database.. India recorded its first case of Covid-19 in January 2020.The amount outstanding to wilful defaulters had touched a post-pandemic peak of Rs.7.6 trillion in December 2020 (or Rs 1.4 trillion more than pre-pandemic levels). The latest numbers are better, though still higher than pre-pandemic levels. 
A wilful defaulter is an entity that has borrowed money from the bank but hasn’t repaid despite having the means to do so. There were 26,022 such cases pending as of June. The increase in the amount outstanding is larger if one compares the June 2021 figure with June 2019

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