In a response to RTI, RBI said loan defaults doubled in a year
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In a response to RTI filed by The Indian Express, RBI has said that the loan default margins have doubled of small businesses in the previous year. Whereas the amount of defaults in the March’17 was Rs 8,249 cr, it raised to Rs 16,118 cr in March’18. Maximum of these defaults were reported in the Public Sector Banks. Also, the outstanding advances increased from Rs 9,83,796 cr to Rs 10,49,655 cr in 2017 and 2018 resp.