Photo: MintNew Delhi: Public sector banks have written off loans worth Rs516 crore owed by wilful defaulters in the first half of the current fiscal, as per the data collated by the finance ministry. As part of this exercise, 38 loan accounts of wilful defaulters were written off the books of banks during April-September period of 2017-18, it said. The lenders may initiate criminal proceedings against wilful defaulters, wherever necessary. As many as 1,762 wilful defaulters owed Rs25,104 crore to State Bank of India (SBI) as on 31 March, 2017, putting pressure on its balance sheet. Total outstanding loans due to public sector banks by 8,915 wilful defaulters amounted to Rs92,376 crore.

Source: Mint March 04, 2018 07:30 UTC