New Delhi : Wilful defaulters owe close to Rs 924 billion to public sector banks as on March 31, Minister of State for Finance Santosh Kumar Gangwar said in response to a question in Rajya Sabha Tuesday.
Out of the total 8,915 such cases, banks have initiated action against 5,954 cases under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Last month, Gangwar had said in Parliament that state-owned banks have written off loans worth Rs 2.5 trillion during the last five financial years starting 2012-13 (April-March).
To another question related to cloning of credit and debit cards, the minister said 6,811 cases of frauds related to credit cards and 15,792 ATM and debit cards were reportedduring the last financial year. The total amount involved was Rs 204 crore. It is estimated that total bad loans of 41 banks stood at Rs 7 lakh crore in the December quarter of FY17.
