JAIIB & CAIIBText Books by IIBF

JAIIB Books by IIBF


CAIIB Books by IIBF



Disclose List of Loan Defaulters, say Bank Unions

Leave a Comment
Disclosingt of Loan Defaulters

Mumbai, April 19: Bank unions and the Indian Banks' Association (IBA) are in favour of disclosing the list of wilful defaulters to name and shame those responsible for putting the banking system under strain.

While the All India Bank Officers' Association (AIBOA) says the RBI's stand of not disclosing the names of all loan defaulters makes no sense, the IBA has taken a view that the names of only wilful defaulters should be made public.

"When the names of income-tax defaulters can be published by the Income Tax Department, why can't the RBI do the same in the case of loan defaulters? After all, borrowers are given loans from the deposits kept by the public in good faith with banks. Deliberately not repaying loans is equivalent to a criminal offence," said S Nagarajan, General Secretary, AIBOA.

Nagarajan said it seems the reputation of those who loot public money has now become more paramount than the protection of depositors' interest.

A senior IBA office-bearer emphasised that only the names of those who have wilfully defaulted on their loans should be made public.

0 comments:

Post a comment