The travel and tourism firm and related entities owe more than ₹1,800 cr to the bank
2 min read14 Oct 2020Congress 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 2020Mehul 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 2020The 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 2019Wilful 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 2019Recovery 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 2019The 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 2018The 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 2018The move comes against the backdrop of defaults by Vijay Mallya, Nirav Modi and Mehul Choksi and thereafter, fleeing the country
2 min read22 Nov 2018Lender sees 10-fold sequential jump in wilful defaults in September quarter to 179 crore
3 min read10 Nov 2018The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared