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#Thread on #NPAs. Stay with me.
RBI revealed this in an RTI: At the end of March 2018, a record high 7,990 borrowers of above Rs 5 crore had not repaid a whopping Rs 3.71 lakh crore to banks for 1-30 days after due date. That is a four-year high record of early defaulters! 1/n
RBI revealed this in an RTI: At the end of March 2018, a record high 7,990 borrowers of above Rs 5 crore had not repaid a whopping Rs 3.71 lakh crore to banks for 1-30 days after due date. That is a four-year high record of early defaulters! 1/n
2/n. These early defaults rose by a record 281.9 per cent over December 2017 when they stood at only Rs 972 billion . On a year-on-year basis, the rise is almost 228 per cent - the highest growth of early stage overdue repayments in 4 years.
3/n. More than 5,000 of these 7,990 were new and unique early defaulters of loans above Rs 5 crore. What does this number tell us? We have been told that all bad loans are of UPA era. This number tells us that Modi govt might be brewing its own banking crisis as well.
