17/09/2017
PUNE: There is
a need to change the banking manual when it comes to naming and shaming
defaulters, Satyapal Singh, the newly appointed minister of state for
human resource development, said.
The minister was in the city to celebrate the Bank of Maharashtra’s 83rd
foundation day, an event for which was held at Balgandharva Rangmandir auditorium.
"When some poor man takes a loan, all people come to know
about it. But banks do not reveal the names of big corporates defaulting.
Therefore there is a need to change the banking manual," Singh said,
adding that banks go soft on big borrowers and even co-mingle with them, but
send thugs to the homes of poor borrowers.
Speaking on the occasion, BoM's chief Ravindra Marathe said,
"The bank is at the crossroads with rising non-performing assets,
competition from small banks and non-bank financial companies, and subdued
credit growth. But these are not insurmountable challenges." He said the
bank is trying to work its way out of the woods and has reviewed all its
internal structures while trying to ring in accountability and transparency.
The bank has been put under the prompt corrective action by
the RBI as its gross NPA's have accelerated to about 19% in the quarter ended
June 30, 2017 from about 13% in the year ago period.
The bank hosted its past and present employees, felicitated
family members of two soldiers killed in action and presented a plaque containing
the bust-sized pictures o f Praram Vir Charkra heroes to several educational
institutes in the city.
0 comments:
Post a Comment