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9. According to the RBI, just 12 companies are estimated to account for 25% of the gross NPAs, and were identified for immediate bankruptcy proceedings, while there are 488 others which have been given six months time to restructure their debt or be dragged to National Company Law Tribunal (NCLT). A newspaper gave list of 12 companies and their loan defaults or bankruptcy details. A media report said that Reuters news CIC/DGEAT/A/2018/117567 Page 3 agency has collected RBI data through RTI and concluded that country's bad loans have hit a record high of Rs. 9.5 lakh crore at the end of June 2017. (https://www.financialexpress.com/industry/banking-finance/indias-bad-loans-

15.In an earlier RTI application by Shri Subhash Chandra Agrawal dated 8.7.2013 seeking (1) list of bank-defaulters of public sector banks with outstanding above rupees one crore each, mentioning names of directors/ CIC/DGEAT/A/2018/117567 Page 6 partners etc. of such defaulting companies/ firms as on 31.03.2013; (2) list of non-performing assets and/ or other loans at public-sector banks above rupees one crore written off as bad debts ever since 01,01.2008; (3) list of non-performing assets and/ or other loans at public sector banks above rupees one crore which were extended further after their being not paid on stipulated time ever since 01.01.2008; (4) complete information on steps taken to direct all public sector banks to put all such cases as queried under points (2) to (4) on website; (5) complete information on steps taken by RBI and/ or other concerned for effectively checking non performing assets and bad debts in public sector banks. The CPIO claimed that RBI receives data relating to the top 30 Non- Performing Assets (NPAs) accounts from banks for supervisory purposes only, which is held in fiduciary capacity and is exempt u/s 8(1)(a), (d) and (e) of the RTI Act; and informed the appellant that the list of NPA and other loans at public sector banks was not available with RBI. On points 2 and 5 of the RTI application the CPIO informed the appellant about the remedial measures taken by the RBI to monitor credit quality- strategy for monitoring NPAs. First Appellate authority while upholding the decision of the CPIO, held that the CIC had vide order dated 15.11.2011, inter-alia directed the RBI to provide details of the top 100 defaulters in loans taken by industrialists from public sector banks. However, the Delhi High Court had stayed the operation of the order dated 15.11.2011 of CIC and in W.P. No. 1976 of 2012, the Delhi High Court vide its interim order dated 10.04.2012 directed the CIC to adjourn hearings in all such cases that involved the disclosure of the inspection reports prepared by the RBI, and correspondence exchanged between the RBI and banks etc. In a separate RTI application on similar subject by Subhash Chandra Agrawal, the CPIO, RBI (DBS) vide letter dated 12.08.2013 informed the appellant regarding the remedial measures taken by RBI to monitor credit quality strategy for monitoring NPAs with reference to point 6 and informed the appellant that the list of NPA loans of public sector banks was not available with RBI. The CPIO, RBI. Department of Banking Operation and Development (DBOD) vide letter dated 28.08.2013 informed the appellant that information sought at point 1 is exempted from disclosure u/s 8(1)(e) and (h) of the RTI Act and CIC/DGEAT/A/2018/117567 Page 7 replied to the appellant that as far as specific names/ persons/ organizations as sought at point 2 was concerned, Section 45(E) of the RBI Act 1934 prohibits the RBI from disclosing 'credit information' except in the manner provided therein. Since the applicant's request was not covered under any of those exceptions, the information could not be provided to the appellant. The FAA vide order dated 25.09.2013 while partly allowing the appeal directed the CPIO, DBOD to issue a supplementary reply to the appellant queries at point 4 and 5 within ten days. Two second appeals of Subhash Chandra Agrawal were heard by a bench of two learned Central information Commissioners, Smt. Manjula Prasher and Shri Sudhir Bhargava on 24th June 2016. The appellant argued that the information relating to the queries of NPA and list of defaulters by the respondents on the grounds that it would prejudicially affect the economic interest of the country and the information was held by them in fiduciary relationship. The bench of CIC deferred without pronouncing any order, saying that a PIL is pending on the same issue.

Source: https://indianexpress.com/article/india/india-news-india/bad-loan-financial-year-rti- rbi-bank-loan-raghuram-rajan-bad-loan-financial-year-rti-rbi-bank-loan-raghuram-rajan- 1140000000000-bad-debts-the-great-govt-bank-write-off/

39. This writing off has further increased. As per RBI data, between April 2014 and April 2018, the country's 21 State-owned banks ended up writing off Rs 3,16,500 crore of loans even as they recovered Rs 44,900 crore, written off on a cumulative basis -- or less than one-seventh the write-off amount. .. To put this number in perspective, the amount of bad loans written off by public sector banks (PSBs) during the four-year period is CIC/DGEAT/A/2018/117567 Page 37 well over twice the projected budgetary expenditure on health, education and social protection for 2018-19, at Rs 1.38 lakh crore. (Source:

https://indianexpress.com/article/business/banking-and-finance/rbi-data-on-public-sector- banks-in-four-years-banks-write-off-over-seven-times-recovery-5380583/)

40.This newspaper has secured some more details under the Right to Information (RTI) Act, showing that non-performing assets (NPAs) or bad loans of micro and small units -- where the investment in plant and machinery is above Rs 25 lakh but does not exceed Rs 5 crore -- rose from Rs 82,382 crore to Rs 98,500 crore by March 2018. In response, the RBI said that the bulk of loan defaults, which rose from March 2017, is accounted by public sector banks which had a share of 65.32 per cent in outstanding loans to small units, down from 66.61 per cent in the previous year.