Chennai: In view of the recent ruling of the Supreme Court, the government has to amend the Reserve Bank of India (RBI) Act sooner or later and publish the names of loan defaulters periodically, a top official of the All India Bank Employees’ Association (AIBEA) said.
Welcoming the apex court order directing the RBI to disclose its inspection reports of banks and the names of loan defaulters, AIBEA General Secretary CH Venkatachalam said the SC has vindicated the long standing stance of the AIBEA on the issue of banks’ NPAs or bad loans. Venkatachalam said the total amount of loan outstanding from 9,331 willful defaulters as on March 31, 2018, stands at Rs 1,22,018 cr.
