This is how much Vijay Mallya exactly owes to Indian banks

Business tycoon, Vijay Mallya has been arrested in London in connection with the money laundering cases against him. Here's how much he owes to banks

By: News Desk |
April 18, 2017 4:38 pm

In a massive blow to business tycoon and ‘King of good times’ Vijay Mallya, the Scotland Yard police arrested him a year after he fled the country. The central government had faced severe backlash from the members of the opposition after they accused the centre of “waiving off” his loans. Mallya owes an enormous amount of money to a consortium of PSU banks led by the State Bank of India.

Prime Minister Narendra Modi-led government had affirmed that they were making all the efforts to bring back to the country. The apex court had also declared him absconding. The security officials have arrested Mallya on an “extraction” warrant. Scotland Yard asserted that he was arrested “on behalf of Indian authorities on accusations of fraud.”

A number of people across the globe were left assuming as to what is the exact amount that is liable to pay to the banks. Here’s a break-up of each bank:

State Bank of India – Rs 1,600 crore out of which he has reportedly paid Rs 155 crore.

Punjab National Bank – Rs 800 crore

IDBI – Rs 800 crore

Bank of India – Rs 650 crore

Bank of Baroda – Rs 550 crore

United Bank of India – Rs 430 crore

Central Bank of India – Rs 410 crore

UCO Bank – Rs 320 crore

Corporation Bank – Rs 310 crore

State Bank of Mysore – Rs 150 crore

Indian Overseas Bank – Rs 140 crore

Federal Bank – Rs 90 crore

Punjab & Sind Bank – Rs 60 crore

Axis Bank – Rs 50 crore

Mallya was arrested while attending a central London police station and will be produced before the court on April 18.