BANGALORE: ‘Kick out the bad loans before they kill the banks.’ This is the tag line of AIBEA‘s compaign against bad loans. All India Bank Employees Association (AIBEA) which is the oldest and largest trade union of bank employees in India. AIBEA released the list of bad loan accounts. The objective was to stop the corporate from looting public money, as the primary concern. The list revealed that the top 50 loan defaulters owe an astounding amount of Rs.40, 000 crores.
Here is the list of top ten loan defaulters mentioned by AIBEA:
1. Winsome Diamond & Jewellery
The company has legacy of diamond business of more than four decades is in a debt of Rs.2660 crore.
Public sector lenders, including Punjab National Bank (PNB) and Central Bank, sent legal notice to Winsome Diamond & Jewellery to recover loans in November 2013. Prior to that in March 2013 Winsome Diamond’s foreign clients failed to pay their due amounts.
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