SBI Writes Off Rs 7,000 Crore Loans By 63 Willful Defaulters Including Rs 1,201 Crore From Vijay Mallya

  |   India News

At a time when the entire country is discussing how loan defaulters and tax evaders should have been targeted instead of causing pandemonium in the country, after the currency demonetisation, it has come to light that the State Bank of India (SBI) has given up on Rs 7,016 crore loans.As per the report, till a period of June June 30, 2016, SBI has written off Rs 48,000 crore worth bad loans.
Former liquor baron and Rajya Sabha MP Vijay Mallya is said to be the biggest 'beneficiary' of the leniency shown by the country's largest public sector bank.

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