Govt asks banks to name and shame wilful defaulters

Govt asks banks to name and shame wilful defaulters

Tightening the noose around wilful defaulters, the government has asked banks to ‘name and shame’ such borrowers by publishing their photographs and other details in newspapers.

According to PTI, the finance ministry has written a letter to all state-run banks directing them to take board approvals for publication of photographs of such defaulters.

The number of wilful defaulters, who did not repay loans to public sector banks (PSBs) despite the capacity to do so, rose to 9,063 at the end of December 2017.

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