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Alarming rise in NPAs of Banking system
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Dear Editor,

The govt. of India and the Reserve Bank of India have initiated steps to recover the bad loans. Six Debt Recovery Tribunals have been setup. Insolvency & Bankruptcy code enacted, securitixation and reconstruction of Financial Assets and Enforcement of security interest Act was passed to strengthen recovery of Debts of Banks and other Financial Institutions.

NPAs of Banks have rose to whopping Rs.6.9 trillion which some say it is Rs. 12 Trillion. Out of this huge bad loans the number of property seized and symbolic physical possession taken over during 2016-17 was mere worth Rs. 64,519 crore. In 2016, total amount of NPA reduced was only Rs. 37,815 crore.

It is assessed that in the last five years the NPAs have been rising despite the steps taken to speed up the recovery system of NPAs. Tata reportedly took loan to setup a Nano Care plant in Singur in West Bengal which the people resisted and ultimately he was forced to abandon it and shift it out to Gujarat scate.

A common man can not think of obtaining loan from the Bank to meet his domestic needs and if ever he dare to do so he will eat less than to repay the installments of the loan with regularity fearing that in case he fail to pay any installment he and his gauranter may face legal proceedings are several such examples reported in the news media in the past. There appears to be some serious flaw in the recovery system that the influential people dare to take huge loans from Banks or other Financial institutions and then do not pay back because they are connected with these who are at the helms of affairs. Vijay Mallya of Kingfisher and Subrata Roy of Sahara are such glaring examples.

The laws are, therefore, required to be strengthened by removing any loopholes in the loan recovery system so that every loan defaulter is made to repay the same how powerful or influential he may be so that recovery system is made flawless.

—Krishan Singh,

Talab Tillo, Jammu.

News Updated at : Monday, May 15, 2017
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