NEWS & ADVICE : SAVINGS ACCOUNTS
406 bad bank A/c accounts holds for Rs 70,300 cr
By Vaibhav Aggarwal
May 7, 2014
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According to the All India Bank Employees Association (AIBEA) reports there are 406 bad loan accounts with the banks. These account hold for the NPAs of worth Rs 70,300 crore. The total NPA noticed till September last year was Rs 2.36 lakh crore.

AIBEA has asked the govt. to release the list of the major defaulters and take some strict actions for the recovery. AIBEA chief stated that this is public money and it has to be recovered for the benefit of the public. According to the reports the bad loans by the top four defaulters in public sector banks accounts for about Rs 23,000 crore and the bad loans in top-30 bad loan accounts in 24 banks is Rs 70,300 crore. Fresh bad loans in public sector banks in the last seven years are Rs 4.95 lakh crore. AIBEA has also asked if executives are responsible for the increase in the NPAs, then they should also be punished and strict action should be taken against them.

General secretary of AIBEA said that AIBEA would publish a larger list of about 3,000 bad loan accounts that have defaulted Rs 1 crore and above each. Last year, AIBEA had released a list of the top-50 bad loan accounts.


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