Willful defaulters continue to rise steadily

The number of willful defaulters, that didn’t pay back their loans to Public Sector Banks have increased by 1.7% since December 2017, according to Government data. There are provisions for penal measures and criminal action against wilful defaulters as per the guidelines of Reserve Bank of India. To achieve taxation efficiency, banks at time write-off the non-performing assets and such loans must be repaid.