Only 73 properties were identified for illegally running commercial businesses in housing societies. The Pune Municipal Corporation (PMC) estimates that areas within its jurisdiction, including merged villages, have around 50,000 such properties.
IDBI Bank Ltd, which has received multiple bailouts in the past few years, recovered just 7% from big defaulters who have an outstanding of Rs100 crore and more, from Rs45,536 crore bad loans it wrote off since financial year (FY)2016-17. What is more shocking is IDBI Bank took a haircut of 60% while settling loans worth Rs15,623 crore through the national company law tribunal (NCLT), reveals a reply received under the Right to Information (RTI) Act. IDBI Bank was re-categorised as a private sector lender in January 2019 after the Life Insurance Corporation of India (LIC) increased its stake to 51% in the lender.
Maintaining the tradition of public sector banks (PSBs) of keeping hidden the names of big and wilful defaulters, the Central Bank of India (CBI) says information about defaulter-borrowers whose loans worth Rs100 crore and above are written off, is related to third-party and hence cannot be provided. Since FY2016-17, the Bank wrote off bad debts worth Rs21,085 crore of these big defaulters while recovering just 10% or Rs2,031 crore. Interestingly, speaking about haircuts it suffered while recovering bad loans of big defaulters, CBI simply says the query is unclear and hence cannot be replied to!
Om Prakash Bakoria has been transferred as chairman and managing director of Pune Mahanagar Parivahan Mahamandal Limited (PMPML), and Sachindra Pratap Singh has taken over the role. Bakoria s predecessors have also been transferred before completing their tenure. Some officers ask for transfers themselves, while others are transferred upon the request of politicians. Civic activist Vivek Velankar criticizes the government for not allowing officers to work in PMPML.