Despite providing various benefits, the defaulted loan has increased by $ 3,500 crore at the end of June. One of these benefits is not to identify the customer as a defaulter till September 30 and to reschedule the defaulted loan under the existing policy. Even after that, in the March-June quarter, the amount of bad debts increased to $ 3,608 crore and the amount of bad debts stood at $ 98,116 crore.
According to the latest bank defaulted loans, the amount of loans disbursed by banks till June this year stood at $ 1,049,725 crore. Of this, the default amount is $ 96,117 crore, which is 9.18 percent of the total debt.
According to the central bank, the amount of loans disbursed by the banks till March this year was $ 10,024,496 crore. Of this, the default amount is $92,510 crore, which is 9.3 percent of the total debt. As a result, defaulted loans have increased by $ 3,606 crore in three months. Earlier, in December last year, the amount of defaulters was $ 94,331 crore or 9.32 percent out of a loan of $10,11,627 crore.
According to the bank’s statistics, at the end of June 2019, the defaulted loans in the banking sector was 1 lakh 12 thousand 425 crore. Which is 11.69 percent of the total loan disbursed. As compared to June last year, the defaulted loan has decreased by $ 16,309 crore in June this year.
The central bank rescheduled the banks to reduce the defaulted loans of the banks. With 2 percent down payment, the defaulters have got the opportunity to repay the loan in 10 years with a grace period of one year. Since the concession was given in the policy on May 16, 2019, defaulted loans of more than $50,000 crore have been rescheduled last year with special consideration. Despite taking so many benefits, the amount of defaulted loans in the banking sector is not decreasing.