Don’t hide Top Corporate Wilful Defaulters ask Bank Employee Unions

Last updated by Jai on May 3, 2017

Leaders of Bank Employees’ Unions have demanded that name of the top corporate willful defaulters should be published and made public immediately. One of the AIBOC leader from Kolkata said that

“The Reserve Bank of India has been steadfastly refusing to divulge the names of top corporate wilful defaulters. In the days to come, the position of NPAs will worsen if the names of wilful defaulters are not published immediately and treated as criminal offenders,”

He stated that more than 60% of NPAs belongs to wilful default of large corporates and government failed to bring in any stringent action towards it.

The union leader said that “Every state unit of AIBOC will meet Chief Minister of respective states to oppose any move to merge public sector units.”

The leader also pointed out the following issues:

The RBI cannot shirk off its responsibility of the huge NPAs as all the banks’ boards have RBI nominees as director.
RBI Governor opined the public sector banks to raise private capital from the markets and not rely on the government for that then why government not compensate the PSU banks for the opportunity cost of ‘Jan Dhan’ exercise and for the entire period of demonetisation which adversely affected the bottomline of the banks.
Weak bank reveals a weaker regulator. They said public sector banks are making “operating profit” but due to stringent provision norms prescribed by the RBI, against big ticket corporate loans, the net profit has come down.