Banks in India|Bank Jobs|Bank Recruitment|Banking News,Information & Articles|Banking in India|Bank Loan|Bank Employment|Bank Interest Rate-BankingOnly.com
      Recent News :
Govt & RBI Policy : :

NPA resolution: Bank unions sceptical of bankruptcy process

By:  GK Gupta (ET) , Place:  Chandigarh ,  Update:15 Sep 2017
 
NEW DELHI: Bank unions today claimed the bankruptcy process initiated by various lenders for NPA resolution will not help in bringing the money back. 

Bankruptcy process is not going to yield desired results in terms of NPA resolution as recovery is likely to be very low, All India Bank Employees Association (AIBEA) General Secretary C H Vekatchalam said. 

"Banking Regulations Act has been amended to resort to Insolvency and Bankruptcy Code against big defaulters but this litigation route is time consuming and there is no guarantee of banks getting back the entire loans. Banks will incur further losses on account of these accounts," he said. 

RBI recently identified 12 accounts with non-performing assets (NPAs) of about Rs 2.5 lakh crore and asked various banks to initiate bankruptcy process against these firms. 

He added that United Forum of Bank Unions (UFBU) will hold a protest march here tomorrow against various government policies, including privatisation of PSU banks. 

Adequate capital should be provided by the government to public sector banks to strengthen their balance sheet and the administration should desist from any move towards privatisation, UFBU Convenor Sanjeev Bandlish said. 
Effective measures are to be taken to recover the huge bad loans and banks should not be consolidated, amalgamated or merged, said All India Bank Officers Confederation (AIBOC) Joint General Secretary Ravinder Gupta. 

The protest march will begin from Ram Leela Maidan and culminate at Sansad Marg police station, he added. 

"Poor people, students and farmers are being harassed for non-repayment of loans but big corporates are enjoying all concessions. This is anti-people," he said. 


 
 
 
 Related News
Govt will help strengthen the banking system, says Jaitley  (23 Sep 2017)
RBI Likely To Hold Policy Rate Till Fiscal Year-End: Kotak Institutional Equitie ..  (23 Sep 2017)
Reserve Bank of India looking into cryptocurrencies, 'not comfortable' with bitc ..  (20 Sep 2017)
RBI adds HDFC among banks too big to fail with SBI, ICICI  (19 Sep 2017)
Bulls roar on Dalal Street: 5 factors fuelling this rally  (18 Sep 2017)
 Most Popular News
Bank Jobs : Apply Date and Recruitment Test Exams in 2014-2015 (02 Aug 2015)
Bank Branch ATM Space Required by banks in India: View and Apply (07 Aug 2014)
Bank Probationary Officer (PO) Starting Salary, Perk and facilities in India (02 Apr 2015)
Gratuity hike effective from 24.05.2010 : Gazette Notification (31 May 2010)
Clerical Cadre Common Written Exam, CWE 2011-2012 IBPS Notification: Online Appl .. (22 Aug 2011)
0 Recent Comments
 
0 More Comments
 
 
 
 
Comment
   
Your Name :
Email :
Comment :
 
click for new code
Security Code :
 
   
 
News Category
SubScribe