All India Bank Employees' Association (AIBEA) has announced a list of top 50 loan defaulters, mainly the corporate firms, whose total default amount to the banks is allegedly to be around Rs 40,528 crore (Rs 4056.28 billion).
The association demanded a remedy for the bad loans at the earliest to safeguard the public money in the banks.
As the Reserve Bank of India (RBI) and the Central government were not forthcoming in publishing the list of bank loan defaulters, the AIBEA has released the list in public interest, he said.
AIBEA’s campaign that was launched nation-wide on Tuesday stressed on three key points. RBI should periodically publish the list, Centre should amend recovery laws and take criminal action against wilful defaulters.
