BENGALURU: Highly cash-dependent traders in gems and diamonds have cost banks at least Rs 5,000 crore through 90 defaults, bank-wise and company-wise data on wilful defaulters compiled by the Federation of Bank of India Staff Unions (FBISU) shows.
The top loser is PNB, with just nine defaulters but a loss of Rs 1,790 crore — four times the amount SBI lost.
SBI reported the most number of wilful defaults (15) and lost Rs 410 crore. PNB, incidentally, has lost the most among banks.
According to FBISU data, the total number of wilful defaulters is a little over 5,000, costing banks about Rs 49,000 crore, but the latest RBI data shows the numbers have jumped to 8,915 and Rs 92,376 crore, respectively. Of these wilful defaulters at the end of March 2017, PNB had the most (1,120), followed by SBI (997).
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