Central Repository of Information on Large Credits (CRILC) has reported 2623 wilful defaulters in the country as on March this year, with borrowings of over one lakh 96 thousand crore rupees from Scheduled Commercial banks.

 The Minister of State of Finance Dr. Bhagwat Kishanrao Karad, in a written reply in Lok Sabha today informed that such defaulters have loan of five crore rupees and above. He said, the willful defaulter has been allowed to enter into compromise settlement to enable multiple avenues to lenders to recover the money in default without much delay. The minister said the settlement is undertaken by lenders in respect of willful defaulters without prejudice to the criminal proceedings underway against such debtors.