Bad loans crisis: Banks are rushing to courts to get defaulters to pay up

Number of suits filed by banks against willful defaulters has more than doubled since December 2013

India’s bad loan problem is much bigger than Vijay Mallya. Public sector banks have a tough task at hand recovering money tied up in non-performing loans, according to the latest data. Even as Indian authorities seem intent on bringing back the entrepreneur from the United Kingdom, where he fled to in March 2016, and make him pay the Rs 9,000 crores in loans he owes multiple banks, a large number of public sector banks are now approaching courts to obtain recovery notices against defaulting companies.

Data analysed by Scroll.in showed that the number of suits filed by banks against willful defaulters