A Default of Epic Proportions
The affected lenders include Union Bank of India, Punjab National Bank, State Bank of India, UCO Bank, Indian Overseas Bank, Punjab & Sind Bank, and Bank of India. The largest defaulted amount was towards Union Bank at Rs 3,733.2 crore, followed by IOB at Rs 2,434.1 crore. MTNL also owed Rs 1,121.1 crore to Bank of India. The default to Punjab National Bank stood at Rs 474.7 crore, while dues to State Bank of India amounted to Rs 363.4 crore. The company also defaulted on Rs 273.6 crore to UCO Bank and Rs 184.8 crore to Punjab & Sind Bank.
