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Number of willful defaulters in nationalized banks up 60% to 8,582 in 5 years

Number of willful defaulters in nationalized banks up 60% to 8,582 in 5 years

The number of willful defaulters in nationalized banks has increased by over 60 per cent to 8,582 in five years to March 2019.

By the end of 2014-15 fiscal, the figure stood at 5,349, Finance Minister Nirmala Sitharaman said in a written reply in Lok Sabha.

Who is willful defaulter?

A willful defaulter is an entity or a person that has not paid the loan back despite the ability to repay it.

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