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Tag: state owned banks

Wilful Defaults Surpass $21 billion mark in India for the Year 2018-19
Corporate, News

Wilful Defaults Surpass $21 billion mark in India for the Year 2018-19

Highlights: The state-owned banks in India had revealed INR 1.50 trillion ($21.76 billion) worth of loans as wilful defaults in 2018-19The data from Reserve Bank of India represents gross loans and advances in state-run banks was calculated around INR 638.2 billion, as of March 31, 2019The government undertaking banks have filed 1,475 police complaints against wilful defaulters in the previous 3 financial years According to Indian law, wilful defaulters are known as companies or individuals that own large businesses and intentionally skip repayments. The state-owned banks in India had revealed INR 1.50 trillion ($21.76 billion) worth of loans as wilful defaults in 2018-19, while State Bank of India is accounted to have nearly one third of worth of loan lent. The State Bank of ...