Number of wilful defaulters rises to 2,494: Finance minister Nirmala Sitharaman

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The number of wilful defaulters has increased from 2,208 to 2,494 at the end of March 31, 2021, Finance Minister Nirmala Sitharaman informed Parliament on Tuesday.

According to RBI data on global operations, during the last three financial years, public sector banks (PSBs) have effected recovery of Rs 3,12,987 crore in non-performing assets (NPAs) and written-off loans, she said in a written reply to the Rajya Sabha.

“RBI has further apprised that the total number of unique wilful defaulters reported by PSBs was 2,017 as on March 31, 2019, 2,208 as on March 31, 2020 and 2,494 as on March 31, 2021,” she said.

The RBI has apprised that as per data reported by banks to Central Repository of Information on Large Credits (CRILC), the total funded amount outstanding of borrowers whose sector code is private and whose loans are classified as NPAs in the PSBs as on March 31, 2019, March 31, 2020 and March 31, 2021 is Rs 5,73,202 crore, Rs 4,92,632 crore and Rs 4,02,015 crore, respectively, she added.

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

They may also initiate criminal proceedings against wilful defaulters, wherever necessary, she added.