The banking union publishes the list of 2,426 people in default of payment
Even as the risk of Covid-linked bank loans going awry looms, the All India Bank Employees Association on Saturday published a list of 2,426 willful defaulters, who together owe more than Rs 1.47 lakh crore to 17 banks in the sector. audience, citing sharp criticism from Trinamool Congress, which said the “looted” money would have been enough to transfer lakhs of rupees to the accounts of unemployed migrant workers.
“I received today a list of 2,426 voluntary defaults from the Bank Employees Association of India (AIBEA). Rs. 1,47,350 crore has been looted by the common man. Enough to transfer money. thousands of rupees to every unemployed migrant worker, ”tweeted TMC MP Derek O’Brien. .
He also accused the government of “encouraging” crony capitalism.
Gitanjali Gems, owned by Mehul Choksi, with a default of Rs 4,644 crore at the Punjab National Bank at the top of the list, followed by ABG Shipyard Ltd, which owes Rs 1,875 crore from the State Bank of India.
REI Agro Ltd, Ruchi Soya Industries, Gili India, Winsome Diamonds & Jewelery, Kudos Chemie and Nakshatra Brands Ltd are the companies, which each owe over Rs 1,000 crore.
Coastal Projects and Winsome Diamonds & Jewelery are also among the top 10 defaulters, who together owe PSU banks Rs17,005 crore.
AIBEA called for an end to the current practice of granting concessions to defaulters.
In a statement, CH Venkatachalam, General Secretary of the All India Bank Employees Association (AIBEA), said: “Atmanirbhar or self-reliance cannot be achieved by weakening our public sector banks (PSBs) or privatizing our banks. We have a very bitter experience. with the private banks of our country. The only major problem our banks face is the growing and alarming number of bad debts from private companies and businesses. If tough measures are taken against them and the money is recovered, our banks can play a bigger role in development, ”CH Venkatachalam, secretary general of AIBEA said in a statement.
Among the 17 public sector lenders, SBI has the highest number of voluntary defaults at 685 who together defaulted on a loan of Rs 43,887 crore. It is followed by PNB with 325 defaulters owing Rs 22,370 crore.