Question : BANK LOAN DEFAULTERS



(a) the bank-wise number of defaulters of the amount exceeding rupees one crore in the country; and

(b) the action taken by the banks to recover the amount from the defaulters?

Answer given by the minister


THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATH):

(a) and (b) Reserve Bank of India (RB!) has reported that the number of defaulters with outstanding of Rs. 1 crore and above classified as doubtful or loss asset and the amount outstanding as on 31st March, 1999 are as follows:


As on 31.03.1999 (Rs.in crore) Bank group No. of A/Cs Amount SBi group 785 5344.60 Nationafised Banks 2173 11137.77 Total PSBs 2358 16482.37 Private Banks - 844.13 Foreign Banks - 1221.18 Total All Banks 3379 18547.68

The above credit information is collected by RBI under Chapter IMA of the Reserve Bank of India Act, 1934 and disclosure of information is permissible only in a consolidated form as contemplated by Section 45E(2) (b) of the Act-Banks are taking all possibie steps by way of cash recovery, compromise and write off of amounts due from their borrowers. In doing so, they are to recover the maximum possible at the minimum cost.