In the recent days, a lot of criticism is placed on the Public Sector Banks (PSBs) for the huge Non-Performing Assets (NPAs) or the bad loans which are not recovered. These bad loans come to about an average of 6-7%, something more or less, in the PSBs, which creates financial problems to the concerned banks. These are known to all. And the PSBs are criticised for this by government, public and the big business.
Certain questions naturally come to our minds:
- Who are these individuals or companies who have not re-paid these huge loans taken years back? Neither the government nor the banks disclose the names. It means that these are very influential persons/companies and not ordinary persons.
- Who are the persons/companies who guaranteed these loans? Why not disclose their names?
- What action has been taken to recover the loans? Whether court proceedings have been initiated?
- Why the government and the PSBs are not putting the names of the defaulters in public? Will it not shame them so that they will be compelled to pay the loans back?
The answers to these questions will reveal certain facts. Who are all involved in these cheating of the Public Sector Banks. The government and the Banks have got the responsibility to reveal all these information so that the public is aware of the same.
This looting of the Public Sector Banks should be stopped.