Modi Refuses to Shame Loan Defaulters?

Narendra Modi Refuses to Shame Loan Defaulters

For some reason, Narendra Modi government is keen on saving the face of the loan defaulters with public sector banks. Despite a Supreme Court’s order in 2015, RBI has refused to make public the list of loan defaulters with public sector banks.

An RTI application filed by activist Subhash Agrawal who had sought to know the list of people who had defaulted in the loan of Rs one crore and above was denied and RBI says it is against economic interests of the state.

Gross non-performing assets (NPA) of the public sector banks stood at Rs 6.06 lakh crore as on December 31, 2016. A majority of this are by big industrialists who turn defaulters willfully. But then, when small farmers default on loans, their names are put in Newspapers advertisements and their assets are auctioned.

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