Supreme Court asks RBI to disclose names of India's biggest loan defaulters

The Supreme Court on Tuesday has sought a list of companies from the Reserve Bank of India (RBI) who have defaulted in paying back loan to the PSU banks and have contributed to the massive loan default of more than Rs 500 crore.

Zee Media Bureau

New Delhi: Who are these defaulters owing more than Rs 500 crore to different public sector banks?

The Supreme Court on Tuesday has sought a list of companies from the Reserve Bank of India (RBI) who have defaulted in paying back loan to the PSU banks and have contributed to the massive loan default of Rs 500 crore, or those loans which have benefited from corporate debt restructuring schemes, said The Times of India report.

The country's highest court also wants to know how the PSU banks or other financial institutions are sanctioning huge loans without proper guidelines or adequate loan-recovery mechanism.

The RBI is expected to reply to the Supreme Court bench headed by Chief Justice GS Thakur in an affidavit, and present the list of loan defaulters in a sealed envelope.