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RBI furnishes list of defaulters to Supreme Court

Loan defaultersComplying with the directive of the Supreme Court, the Reserve Bank of India, RBI, has submitted a list of defaulters, who owe more than Rs 500 crore to public sector banks.

Stating the reason of ‘fiduciary relationship’, the RBI told the top court that it is ‘extremely necessary’ to keep these names confidential.

However, CIBIL, an agency which collates information on credit, has revealed a data showing 6,819 wilful defaulters owing banks Rs 74,699 crore until December 2015 which was Rs 22,332 crore more than that of what 3,703 wilful defaulters owed until December 2012.

According to RBI, these wilful defaulters are the ones who haven’t paid dues despite adequate cash flow and good net worth.

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