Wilful Defaulters

RBI's new norms on wilful defaulters to come into effect from Nov 1

"Wilful defaulters or any entity with which a wilful defaulter is associated shall not be eligible for restructuring of credit facilities," the RBI said

2,623 wilful defaulters owe Rs 1.96 trillion to Indian banks: Bhagwat Karad

Karad also informed the Lok Sabha that the Centre has written off loans worth over Rs 10 trillion, in the last five years

Dues from wilful defaulters rose by Rs 100 cr per day since Covid-19 struck

Wilful defaulter dues up by Rs 1.2 trillion since the Covid-19 pandemic began. Some states have seen a larger rise than others

RBI directive on one-time-settlement with defaulters can derail banks: MP

The RBI circular permitting banks to enter into a one-time settlement with wilful defaulters poses a significant risk to the stability of financial institutions in the country, the CPI MP Binoy Viswam has said. In a letter to Union Finance Minister Nirmala Sitharaman, Viswam said that by offering lenient settlement terms to individuals and entities that have deliberately evaded their repayment obligations, the circular undermines the fundamental principles of responsible lending and borrower accountability. "I write to you to express my deep apprehensions regarding the circular issued by the Reserve Bank of India (RBI) permitting banks to enter into a one-time settlement (OTS) with wilful defaulters. This circular poses significant risks to the stability of our financial system," he said. He said that such a move not only "erodes public confidence in our banking sector but also creates moral hazards by incentivizing reckless borrowing and default." "Allowing wilful defaulters to ..

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Compromise with wilful defaulters to help banks recover dues much faster

RBI says compromise settlement is not a new regulation, has been around for over 15 years; But unlike normal defaulters, wilful and fraud accounts barred from availing bank finance for 5 years

Wilful defaulters may get loan after five years of compromise settlement

Debt recast to be allowed only if promoter changes

RBI to come up with new rules on classification of accounts as fraudulent

The new rules will reportedly give the borrower a personal hearing before they are declared a wilful defaulter

Wilful defaulters in India have decreased 56% in last 8 years: BJP

"Banks recovered over Rs 1,86,000 lakh crore from written-off loan accounts of wilful defaulters from 2014 to 2021," BJP's Amit Malviya added.

Wilful defaults Rs 62,000 crore higher than before Covid pandemic

Public sector banks accounted for 77.4 per cent of the total amount outstanding at Rs 5.3 trillion as of June

Number of wilful defaulters rises to 2,494: FM informs Parliament

Banks are required to take steps to initiate the legal process, wherever warranted, against the borrowers or guarantors for recovery dues, she said.

Govt to announce forensic auditing norms, bring clarity in fraud detection

Standards used now are not clear, resulting in hundreds of cases across India courts filed by borrowers, companies and individuals

Over 1,700 big wilful defaulters together owe Rs 37,020 crore to PNB

Leading the chart is Mehul Choksi-promoted Gitanjali Gems Ltd with an outstanding loan of Rs 5,064.84 crore

Punjab National Bank's UK unit wins court battle over unpaid loans

The case by the UK subsidiary of PNB is seen as a landmark decision for similar cases involving wilful defaulters who are residing in or have assets in the UK

Wilful defaulters benefited from 'phone banking' under UPA regime: FM

Congress has attempted to mislead people, and Rahul Gandhi should introspect why his party fails to play a constructive role in cleaning up the system, says Nirmala Sitharaman

Speaker did not allow supplementary questioning, Right taken away: Rahul

Gandhi was asking the government to name wilful bank loan defaulters, but was not allowed another supplementary question amid uproar in the lower house.

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Major wilful defaulters revealed: RBI finally discloses details under RTI

For over ten years, the RBI has denied RTI applicants this information arguing that it would be against the economic interests of the country

IDBI Bank declares Vijay Mallya 'wilful defaulter' over payment default

IDBI Bank has informed and cautioned the public through the notice that "no person shall deal with any of the properties of the borrower/guarantor as huge dues are to be recovered from them".

19 lenders file 529 wilful default cases worth Rs 18,500 cr in June quarter

Amount outstanding is up by over a tenth in a quarter