Photo: MintNew Delhi: Public sector banks have taken loan recovery action under Sarfaesi law against 5,954 wilful defaulters owing about Rs70,000 crore to the lenders. Remaining 20 banks have taken action against 4,510 wilful defaulters with outstanding loan of Rs48,496 crore. Total outstanding loans due to public sector banks by wilful defaulters amounted to Rs92,376 crore, according to the finance ministry data. At the same time, there has been close to 10% increase in the number of wilful defaulters on annual basis. RBI has allowed banks to name and shame wilful defaulters by publishing their photographs.

Source: Mint August 27, 2017 10:30 UTC