Credit Information Bureau informs increase in number of loan defaulters to 2,842 clients; 628 clients removed from the blacklist
Tue, Sep 3, 2019 2:42 PM on External Media, Latest, Others,
The Credit Information Bureau (CIB) has informed that the number of loan defaulters have doubled this year compared to the previous year. As per the NRB, the amount of defaulted loan has increased by more than 100% this year.
On request of the BFIs, the CIB blacklists loan defaulters who have been unable to clear their loans worth Rs.10 Lakhs or more. In the previous year, the number of defaulters stood at 1,335. However, by the end of FY 75/76, this number has increased to 2,842 defaulters.
The number of clients removed from the blacklist has also increased. In the previous year 341 clients were removed from the blacklist. However, by the end of FY 75/76, this number has increased to 628 clients.
The total number of loan clients has also increased as per the CIB. Till FY 74/75 there were a total of 1,301,010 loan clients from all BFI whereas, till FY 75/76 the number of loan clients has increased to 1,439,648 clients.
