As per reports in the media, the NPA or bad loans, are maximum in India, compared to other Asian countries. While other countries like Hong Kong, China, Japan, S.Korea etc. are below 2%, it is almost 6% in India.
And the 50 top defaulters of NPA in India have loans to the value of Rs. 1.21 lakh crore against them as in December 2015. The number of defaulters rose from 5554 to 7686 within the last three years. This information was given by Jayant Sinha Minister of State for Finance.
It is clear that the aggressive implementation of the neo- liberal policies by the successive governments and the extra-ordinary appeasement of corporates have resulted in this unhappy situation.