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14% of PSB Bad Loans are Due to Wilful Defaulters
January 12, 2018
Wilful defaulters make for about 14% of the total bad loans in the public-sector banks (PSBs). They are responsible for Rs. 1.01 lakh crore of loans out of the total number of bad loans that amount to 7.33 lakh crores, as recorded on September 30, 2017.
Wilful defaults are considered a serious offense and a cause for a major concern. This is because they are committed by financially strong individuals who have the resources and finances to repay the loans, but default nonetheless “wilfully”.
