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Error in reporting inflates AU Small Finance Bank's wilful defaults
An error in reporting wilful defaulters to credit information company TransUnion Cibil by AU Small Finance Bank (SFB), because of duplication of outstanding loans, has led to a 10-fold rise in the bank's wilful defaults. Data from TransUnion Cibil shows that the Jaipur-based small finance bank's wilful defaults jumped to 179 crore in the September quarter of FY19 from 18 crore in the June quarter. Reporting just their names without the amount would not suffice, which is why the amount gets repeated.
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