Punjab National Bank (PNB) witnessed 0.87 per cent drop in dues from big wilful defaulters to Rs 15,354.52 crore on June 30 compared to previous month, the bank data suggest.
The data on big wilful defaulters is pertaining to those borrowers who took loan of Rs 25 lakh and above from the public sector lender, media reports said.
Such borrowers had an outstanding of Rs 15,490 crore at the end of May 2018, reported PTI, adding that the bank’s balance sheet had closed with big wilful defaults owing Rs 15,171.91 crore for financial year ended March 2018.
PNB suffered a standalone net loss of Rs 12,282.82 crore in 2017-18, as against a profit of Rs 1,324.80 crore in 2016-17, the report said.
The major defaulters included Kudos Chemie Ltd – Rs 1301.82 crore; Kingfisher Airlines Rs 597.44 crore; Jas Infrastructure Rs 410.96 crore; VMC Systems Rs 296.08 crore; MBS Jswellers Rs 266.17 crore; Tulsi Extrusion Rs 175.41 crore and Arvind Remedies Rs 158.16 crore, it added.
Among others included ICSA (India) Ltd Rs 134.76 crore; Bhawani Industries Rs 106.66 crore; Indu Projects Rs 102.83 crore; BBF Industries Rs 101 crore. These borrowers took loan from PNB as part of a consortium lending from various banks.
The defaulters who took loan solely from PNB were: Winsome Diamonds and Jewellery – Rs 899.70cr; Forever Precious Jewellery & Diamonds – Rs 747.97 crore; Zoom Developers – Rs 410.18 crore; Apple Industries Rs 248.34 crore; Mahua Media Pvt Ltd – Rs 104.86 crore and Shree Sidhbali Ispat Rs 165.98 crore, reported PTI.
Among others were: Rupana Papers Rs 100.49 crore; Surya Vinayak Industries Rs 133.96 crore;Vishal Exports Overseas Rs 98.39 crore; Ramsarup Nirmaan Wires Rs 148.10 crore; Ramsarup Lohh Udyog Rs 129.34 crore; Rupana Papers Rs 100.49 crore and Rana Alloys Rs 78.90 crore, the report highlighted.
The banking sector, particularly state-owned lenders, is grappling with mounting non performing assets (NPAs) or bad loans as also a host of scams and frauds. NPAs in the banking sector stood at Rs 8.31 lakh crore as of December 2017.