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Tuesday, September 10, 2019

50% of total bank loan taken only 266 Indian but they are safe under Govt. umbrella

Half of all bank loans are with less than 1% of companies; 266 large firms have borrowed this much money 
A handful of big companies have a hold of most of the bank loans given out in India, with less than 0.3% of corporate borrowers cornering 41% of all the money lent by banks to firms. Further, just about 0.7% of companies have over 54% of all outstanding corporate loans, RBI data shows. Only 266 companies, with borrowings at over Rs 5,000 crore each, have aggregate borrowings of over Rs 40 lakh crore. Indian companies have continued to predominantly depend on banks for their financial needs. “Notwithstanding the various steps taken by the government, RBI and various other regulators to augment alternative sources of credit flow to the economy, the desired results have not been significantly visible and the corporate sector’s over-reliance on bank borrowing appears to continue,” says the RBI report.

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