Wilful defaulter loans over Rs 58,000 crore from 5,600 accounts

All India Bank Employees’ Association conference with C H Venkatachalam, General Secretary (at the centre). Image: AIBEA Official website

The All India Bank Employees’ Association has released a list of wilful defaulters.

It said, “Bad loans in the Banks are increasing day by day. But the Government and the RBI are not taking tough measures to recover the bad loans. Even their names are not being published. Loans are given from public money. Hence people should know who the loan defaulters are. When poor borrowers are harassed, corporate defaulters are given all concessions. The number of wilful defaulters is also on the increase.”

The data showed that there are 5,610 wilful defaulter accounts owing a total of Rs 58,792 crore. The largest share belongs to nationalised banks, at 3192 accounts owing Rs 28,775 crore, followed by State Bank of India (SBI) and its associates at Rs 18, 576 crore for 1546 accounts.

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The union said that Punjab National Bank topped the list of public sector banks with a total of nearly 700 accounts defaulting on Rs 9,44,505 crore worth of loans. In nationalised banks, the total amount ofcdefaulted loans amounted to Rs 2,87,7,525 crore

While the defaulted loans in SBI and its associate banks amounted to Rs 1,85,7,646 crore.

The largest national trade union centre of bank employees in India, AIBEA stated that the bad loans in banks have been increasing on a year-on-year basis.

From Rs 54,673 crore in 2002 to Rs 5,39,995 crore in 2016, the Non-Performing Assets in Public Sector banks have seen a huge increase. The total amount of defaulted loans in Private Sector banks was reported to be Rs 10, 24,975 crore from 792 accounts.

“We demand that wilful default should be terms as ‘criminal offence’ and criminal action should be taken against them for recovery of the loans. Hence we are publishing the names of the wilful defaulters of the Banks. Please visit our website for the list,” C H Venkatachalam, General Secretary, said in a statement.

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