Wilful Default News

Companies

Yes Bank tags Cox & Kings, group cos wilful defaulters

The travel and tourism firm and related entities owe more than ₹1,800 cr to the bank

2 min read14 Oct 2020
Politics

Congress, BJP spar over banks writing off wilful defaulters’ loans

Congress accuses govt of hiding facts over the write-offs, while BJP says the Oppn was misleading the countryCongress fields former finance minister P. Chidambaram to highlight how the Union government needs to step in to protect the 11 0 million Indians connected to MSMEs

2 min read30 Apr 2020
News

Over ₹68,600 cr loans of wilful defaulters written off: RBI in RTI reply

Mehul Choksi's company Gitanjali Gems tops the list of these defaulters with a whopping amount of ₹5,492 croreVijay Mallya's Kingfisher Airlines figures in the list at number 9

2 min read28 Apr 2020
Videos

Mint Views | RBI names 30 major willful defaulters; transparency or public shaming?

The RBI has released a list containing names of 30 major wilful defaulters in response to a Right to Information application filed by online news publication 'The Wire'. This may be in sync with demands of greater transparency in matters of public interest. But it also effectively amounts to public shaming of the borrower, which could be a violation of a bank’s fiduciary duty to maintain privacy in third-party business dealings. After all, not all wilful defaulters are guilty of financial wrongdoing. Some defaults may be due to genuine business failure. Such cases deserve a less harsh approach. Mint Views Daily Dispatch brings you scenes from the Mint edit table where ideas are mooted, discussed and debated before they make it to the coveted editorial page of the paper.

21 Nov 2019
Industry

Wilful defaults in India cross ₹1.5 trillion in 2018-19

Wilful defaulters are classified as firms or individuals who own large businesses and deliberately avoid repaymentsThe State Bank of India saw the highest number of wilful defaults at ₹46,158 crore

1 min read2 Jul 2019
Industry

Number of wilful defaulters in nationalised banks up 60% to 8,582 in 5 years

Recovery of ₹7,654 crore has been done from wilful defaulters' accounts during the last five financial years, the FM saidThe minister was replying to a question whether the cases of wilful defaulters of banks have increased during the last five years

1 min read24 Jun 2019
Companies

RBI shortlists TCS, Wipro, IBM, 3 others for setting up Public Credit Registry

The Reserve Bank of India's (RBI's) Public Credit Registry is aimed at capturing details of all borrowers and wilful defaulters

2 min read24 Dec 2018
Industry

Bombay HC seeks govt view on RBI plea against CIC order on naming wilful defaulters

The CIC earlier this month had issued a show-cause notice to RBI Governor Urjit Patel for 'dishonouring' a Supreme Court judgment on disclosure of the names of the wilful defaulters

2 min read29 Nov 2018
Politics

Govt authorises public sector bank CEOs to request for look-out circulars against wilful defaulters

The move comes against the backdrop of defaults by Vijay Mallya, Nirav Modi and Mehul Choksi and thereafter, fleeing the country

2 min read22 Nov 2018
Industry

Error in reporting inflates AU Small Finance Bank’s wilful defaults

Lender sees 10-fold sequential jump in wilful defaults in September quarter to 179 crore

3 min read10 Nov 2018
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