Banks Reveal Top 10 Wilful Defaulters Owing Over Rs 40,000 Crore

The Indian Parliament was informed about the top 10 wilful defaulters who owe Rs 40,635 crore to banks as of March 31, 2025. ABG Shipyard Ltd leads with Rs 6,695 crore, followed by Gitanjali Gems. The RBI has provided directions to help lenders recover debts more effectively.

The Parliament was informed on Monday about the top 10 wilful defaulters, including prominent names like ABG Shipyard and Gitanjali Gems, who collectively owe Rs 40,635 crore to banks as of March 31, 2025. Finance Minister Nirmala Sitharaman highlighted that ABG Shipyard tops the list with Rs 6,695 crore pending.

In a written response to the Lok Sabha, Sitharaman noted that institutions like the Reserve Bank of India are playing a critical role in guiding lenders on handling defaulters. Banks are instructed to report these defaulters to Credit Information Companies and explore compromise settlements.

The Minister also emphasized the exponential growth in digital payments due to government and regulatory efforts. Retail digital payments have surged significantly, with the Unified Payments Interface accounting for a major share. Several initiatives are also underway to combat digital financial fraud effectively.

(With inputs from agencies.)