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PSB Chiefs Can Now Stop Wilful Defaulters From Fleeing India

Saturday, November 24, 2018, 10:43 AM

The heads of state-run banks can now request look-out circulars to be issued against wilful defaulters and prevent them from fleeing India. The move will help bank chiefs obtain the circular from the Home Ministry in cases where an FIR is yet to be filed. This comes after a recommendation from a committee headed by Financial Services Secretary Rajiv Kumar.
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Big wilful defaulters owe Punjab National Bank Rs 15,172 crore

Sunday, May 6, 2018, 6:34 PM

Big wilful defaulters, who have taken loans worth Rs 25 lakh and above, owed Rs 15,172 crore to Punjab National Bank (PNB) at the end of March this year. The major wilful defaulters include Kudos Chemie (Rs 1,301.82 crore), Winsome Diamonds and Jewellery (Rs.899.70 crore), and Kingfisher Airlines (Rs.597 crore). Notably, PNB had gross bad loans of Rs.57,519 crore as of December 2017.

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