Since new govt. has taken over the reign NPA was projected widely as a big issue of our economic process. The issue is going on endlessly without any end. A common man understand that a few individual have taken loan and with that loan they increase their personal asset and defaulted in repayment. Bank mostly PSU banks only write to them and they will not reply or reply through a law firm and the process will continue another fifty years.
PSU banks failed to publicise any defaulter list in web pin pointing the major defaulters. At least Public will know the men behind this . Any company who is defaulted MD/major share holder name has to announce. Bank should target individual concerned not the company itself.
Except kingfisher case ( v. mallaya) no other case was brought to common man notice. There may hundreds of mallaya in Banks list they all should brought limelight in the public. Ministry of finance should update the status month wise so that public should know who are the defaulters and for whom our country is suffering
Till date no such efforts was made and this clearly shows that influential people in the present government is involved earlier government.
Untill and unless this becomes a political issue this will not have a solution at sight. Lot of noise was raised for kingfisher case can government able to reduce one rupee from bank NPA of kingfisher ? Answer is no .
Transperency is the key for this NPA involving huge amount of money. We are steadily getting down in corruption index means our country is getting corrupt more and more. In this juncture Government should act immediately for public sake.
If you go through RBI websites hundreds of circulars have been digitised and placed in the web. Even circular (quaterly) to get information from banks is also in the web except one information the list of defaulters. This shows how serious is our govt.Following link will give you an idea of defaulters published by CIBIL. Do you think govt cannot do anything to reduce the list physically.
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