Technoglitch
Core Member
The Supreme Court on Tuesday directed the Reserve Bank of India to submit the list of defaulters who owe more than Rs.500 crore to public sector banks.
The top court wants the defaulters list, pertaining to the last five years, within two weeks.
The Reserve Bank has also been asked to indicate the total amount of bad debs written off and restructured by public sector banks.
The Supreme Court was hearing a petition on alleged illegal sanction of loans by Housing and Urban Development Corporation (HUDCO). The petitioner had sought a CBI probe into the alleged scam.
The top court's directive comes amid heightened concerns over a sharp spike in bad loans in public sector banks that has led many lenders post big losses in the December quarter.
Submit List of Big Defaulters in 2 Weeks: Supreme Court to RBI – NDTV Profit
The top court wants the defaulters list, pertaining to the last five years, within two weeks.
The Reserve Bank has also been asked to indicate the total amount of bad debs written off and restructured by public sector banks.
The Supreme Court was hearing a petition on alleged illegal sanction of loans by Housing and Urban Development Corporation (HUDCO). The petitioner had sought a CBI probe into the alleged scam.
The top court's directive comes amid heightened concerns over a sharp spike in bad loans in public sector banks that has led many lenders post big losses in the December quarter.
Submit List of Big Defaulters in 2 Weeks: Supreme Court to RBI – NDTV Profit
