CIC seeks details of action taken against wilful defaulters

New Delhi : The action taken against wilful defaulters of banks loans of above Rs 50 crore should be made public by the Finance Ministry, Ministry for Statistics and Program Implementation and RBI, the CIC has said.

The Information Commissioner Sridhar Acharyulu said that the defaulters of small amounts like farmers are defamed in public, while the defaulters above Rs 50 crore were given long rope. The defaulters above Rs 50 crore were given high concessions in the name of one time settlements, interest waivers, several other privileges and their names are hidden from exposure to secure their reputation, he said.

In a terse order, the Commission noted that over 30,000 farmers have committed suicide between 1998 and 2018 as they could not live in shame of not being able to repay their loans.

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