New Delhi, August 27, 2017

Public sector banks have taken loan recovery action under Sarfaesi law against 5,954 wilful defaulters owing about Rs 70,000 crore to the lenders.

“At the end of March 31, 2017, 21 banks together have taken action against 5,954 wilful defaulter under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act,” as per data collated by the Finance Ministry.

SBI has taken action against 1,444 such defaulters with outstanding loan of Rs 20,943 crore. The remaining 20 banks have taken action against 4,510 wilful defaulters with outstanding loan of Rs 48,496 crore. Total outstanding loans due to public sector banks by wilful defaulters amounted to Rs 92,376 crore.

[The Deccan Herald]