New Delhi: The Supreme Court on Tuesday took suo moto cognizance of newspaper report on bad loans and has, therefore, directed the Reserve Bank of India (RBI) to give it the list of the biggest defaulters. The apex court asked the RBI to share its record about cases where loans of Rs. 500 crore or more have been written off by public sector banks.
The financial performance of state-owned banks has a shadow over them due to mounting bad loans.The country’s largest lender, SBI, has reported a sharp decline in net profit. Another major lender is the Bank of India which recently posted losses for the third quarter of current fiscal.