Nirmala Sitharaman: If you too have not been able to repay the loan then this news is for you. In fact, the Finance Minister has given these orders to the banks regarding the recent loan defaulters. It is very important for you to know them.
Union Finance Minister Nirmala Sitharaman, through an intervention in the Lok Sabha, said that all banks, whether public or private, have been instructed through the RBI to ensure payment of missed loan installments. Deal with the issue in a humane and sensitive manner with the poor farmers.
During Question Hour, when Minister of State for Finance Bhagwat Karad was replying to a question by a Shiv Sena member on the tough tactics adopted by banks while dealing with bad loan defaulters, Sitharaman intervened and said that it was a sensitive matter, which Has often been brought to the notice of the government.
Sitharaman said this
He said, ‘A sensitive issue has been raised here. Such examples of banks, whether public or private, adopting arm-twisting tactics while dealing with poor farmers have been brought to our notice. We have often instructed banks through RBI to deal with such people in a humane manner.
Let us tell you that there have been cases of even physical violence by bank representatives in an attempt to recover loan installments. Now in such a situation, once again the government has advised the banks to work in a dignified manner.
