While common borrowers are harassed for recovery of smaller loan amounts, when it comes to big borrowers, banks are often found giving preferential treatment to these defaulters. Nor are the banks willing to part with information regarding these write-offs. In fact, of the 10 public sector...
The way public sector banks (PSBs) are giving flimsy excuses for denying information under the Right to Information (RTI) Act on bad loans, loan write-off and names of big defaulters, whose defaults are Rs100 crore and more, one could safely say that the public information officers (PIOs) of...
While the common borrower is still struggling to repay monthly instalments, one more big bank has shown how big defaulters are having their cake and eating it as well without any qualms or worries. Similar to other public sector lenders, Indian Bank too wrote off Rs4,792 crore bad debt of...
When it comes to writing off bad loans, especially of big defaulters, all public sector banks (PSBs) follow the same strategy and get tax benefits too. The latest in our long line of revelations is United Commercial Bank (UCO Bank) which wrote off Rs25,266 crore bad debt of while recovering...
Canara Bank is the latest to join other big public sector banks (PSBs) that have written off bad loans worth thousands of crores of rupees and recovered paltry amounts from big defaulters.
Like other PSBs, Canara Bank also refused to share this information as well as names of...
