Wednesday, July 20, 2016

AIBEA names Kingfisher Airlines, Winsome Diamonds among willful defaulters

Ahmedabad: Kingfisher Airlines, Winsome Diamonds and Jewellery Ltd and Zoom Developers are some of the names among a list of 5,610 wilful defaulters that were made public on Wednesday by the All India Bank Employees' Association (AIBEA).

Releasing the list of wilful defaulters, AIBEA said that 5,610 accounts collectively blocked over Rs 58,000 crore of public and private sector banks as on March 2016.

Out of 5,610 banks accounts, around 4,738 accounts are held by nationalised banks including State Bank of India (SBI) and its associate banks. Defaulted loan amount of these accounts was worth Rs 47,735 crore. Private sector banks, on the other hand, saw 792 accounts with outstanding loan of Rs 10,250 crore.

"This is public money and it is our responsibility to inform people, who have stolen their money.That is why we have announced names of defaulters who willfully do not wish to pay back," said Janak Rawal, joint secretary of AIBEA and general secretary of Maha Gujarat Bank Employees' Association.

The union said the total quantum of bad loans of the government owned banks stand at Rs 539,995 crore as on March 31, 2016. Out of this, about Rs 70,000 crore have been blocked by wilful defaulters.
20/07/16 Vimukt Dave/Business Standard

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