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?Make wilful default a criminal offence?

The All India Bank Officers? Confederation (AIBOC), the apex body of bank officers, has expressed concern over mounting NPAs in the industry.

The All India Bank Officers? Confederation (AIBOC), the apex body of bank officers, has expressed concern over mounting NPAs in the industry.

The confederation has recommended severe steps, including publishing the names of defaulters in national newspapers and lodging FIRs against wilful defaulters, as per RBI directions.

At its 73rd meeting held here, the executive committee of AIBOC unanimously demanded necessary amendments be made in Indian Penal Code so that willful default in repayment is turned into as a criminal offence. The committee also said necessary amendments should be made in Representative of Peoples Act to disqualify willful defaulters from contesting elections.

According to Harvinder Singh, general secretary, AIBOC, the authorities concerned should make necessary amendments in DRT and Sarfaesi Act to give more teeth to the banking industry to recover NPAs.

The confederation called upon its members not to succumb to the unwritten pressures from any quarters but to follow the systems and procedures scrupulously.

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First published on: 12-04-2014 at 03:19 IST
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