Abhyudaya Cooperative Bank, whose board was superseded by the Reserve Bank of India (RBI), witnessed a threefold increase in wilful defaults in the past one year to ₹416 crore, according to data from TransUnion Cibil. This surge in defaults may have exacerbated its challenges in the lead-up to regulatory action.
These are accounts of ₹25 lakh or more where the bank has initiated legal action for wilful defaults. A borrower is labelled a wilful defaulter when it fails to meet repayment obligations despite having financial capacity to do so.
On 31 October 2022, the Mumbai-based cooperative bank reported wilful defaults amounting to ₹132 crore across nine entities. Data further showed that the count of companies classified as wilful defaulters shot up to 24 within a year.
The bank has seen a decline in its capital adequacy ratio in recent years, dropping from 12.6% in FY20 to 12.01% in FY21, and to 9.02% in FY22, according to RBI data.
この記事は Mint Mumbai の December 12, 2023 版に掲載されています。
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