RBI data shows that the top one hundred wilful defaulters owe banks nearly Rs. 84,632 crores to banks this year. This has increased from previous year's 80,344 crore rupees.
RBI data showed that 296 wilful defaulters owed banks nearly 1.26 lakh crores till sept.30, 2020. 2203 companies have wilfully defaulted on 1 crore or so which accrues to 1.66 lakh crores in India. Large defaulters are normally in the infrastructure sector either energy or real estate construction hitherto but now the defaults are becoming widespread. If 2203 companies have defaulted on 1 crore rupees, it is a huge figure which needs to be recovered.
Geetanjali Gems, Deccan Chronicle, VMC are the top defaulters in telugu states. These defaulters are causing NPAs in banks reducing credit that could be given to MSMEs. Many are connected to politicians and hence recoveries are slow.
