India saw nearly Rs 25,000-cr wilful defaulter cases even before lockdown

Nationwide lockdown to contain the pandemic may force more business to default on loans, say analysts

The number of wilful defaulters had been on the rise even before the lockdown was announced in March.

Lenders had filed 1,251 cases to recover Rs 24,765.5 crore, shows an analysis of the March quarter data from TransUnion Cibil, which maintains data on wilful defaulter cases filed.

The numbers are released with a lag. Not all lenders update with the same frequency. So only 15 lenders, which saw an increasing number and value of outstanding wilful defaulter loans, were considered for the analysis.

Experts believe the number of defaults could well go up amid the economic stress caused by the Covid-19 pandemic. The