Punjab National Bank, State Bank of India are the worst-hit lenders from bad loans to top 50 wilful defaulters.
Punjab National Bank, State Bank of India are the worst-hit lenders from bad loans to top 50 wilful defaulters, Minister of State for Finance, Anurag Thakur informed the Parliament today. The list that contains 27 names, lifts the curtain and unveils the banks worst hit by the never-ending bad loan saga for the Indian Banking industry. The list was topped by Punjab National Bank (PNB) with an exposure of Rs 13,473 crore; followed by India’s largest public-sector lender State Bank of India (SBI) with an exposure of Rs 13,432 crore. Among the 27 names, only 9 are of private sector banks and while 18 are of public sector banks.
In the list titled, ‘bank-wise details of aggregate funded amount outstanding & amount technically/Prudentially written off, pertaining to top fifty wilful defaulters’ five banks with the largest exposure to the top 50 wilful defaulters include PNB, SBI, Central Bank, Bank of Baroda and Canara Bank. Sum of funded amount outstanding & amount technically / prudentially written off by Central Bank stands at RS 6,504 crore; followed by Bank of Baroda with bad loans worth Rs 5,188 crore from the said defaulters and Canara Bank at Rs 2,939 crore exposure. Among the 10 banks having the largest exposure, only one is a private sector bank while the other 9 belong to the public sector.
Among the worst hit private sector banks were IDBI Bank with Rs 2,571 crore outstanding or written off, followed by Axis Bank with a Rs 809 crore exposure. The smallest exposure by any of the 27 banks to the 50 wilful defaulters was at Federal Bank with an exposure of just Rs 26 crore. Punjab and Sind Bank fared the best among public-sector banks with just Rs 126 crore exposure.
The list was part of a reply to former Congress President Rahul Gandhi who went after the Finance Minister in the Parliament on Monday, asking the government to provide the details of the top 50 wilful defaulters at present including the funds advanced and the amount written off by banks. Although Gandhi had asked for the list of defaulters, while answering the question posed by, MoS Anurag Thakur said that the list of names of those who have defaulted on loans above Rs 25 lakh is available on the website of the Central Information Commission. Thakur, added that Rs 4.8 lakh crore defaulting loans were recovered since NDA took power in 2014.