Chennai, July 19 (IANS) The total quantum of loans wilfully defaulted by borrowers is Rs 58,792 crore, the All India Bank Employees’ Association (AIBEA) said on Tuesday.
In a statement, the major union in the banking sector said out of the total loans wilfully defaulted, a whopping Rs.47,351 crore are accounted by government owned banks-nationalised, State Bank of India (SBI) and its five associate banks.
The union said the total quantum of bad loans of the government owned banks stands at Rs 539,995 crore as on March 31, 2016.
“But the government and the RBI (Reserve Bank of India) are not taking tough measures to recover the bad loans. Even their (defaulters’) names are not being published,” said AIBEA General Secretary C.H. Venkatachalam.
“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 willful defaulters is also on the increase,” AIBEA said.
The AIBEA has uploaded the names of wilful defaulters bank wise.