Reports from TransUnion Cibil's data have found out that willful loan defaults in India are even higher than the total GDP of 87 countries at Rs 2.4 lakh crore.
Over the past ten years, the amount that willful defaulters owe Indian banks has increased more than ten-fold, from Rs 23,000 crore on March 31, 2012, to Rs 2.4 lakh crore on May 31, 2022.
Willful defaulters are those who had the ability to repay their loans but decided not to do so, according to the RBI. Willful defaulters al...
