NPA
= Non Performing Assets ( bank loans not being repaid )
NPB
= Non Performing Bankers ( bank officers not being prosecuted )
Recently
, Supreme Court asked RBI for a list of entities , who are defaulting on loans
of Rs 500 Crores or more
Suddenly
, a few banks started publishing lists of their own loan defaulters
What
is the big deal ?
Several
thousand Cooperative Housing Societies in Mumbai , have been , routinely
publishing on their Notice Boards ( equivalent to the web sites of the banks ?
), names of society-members who have failed to pay their monthly society
charges ( includes Municipal Property Tax ) - including cumulative arrears
They
have been doing so for years . I don't know if Model Standing Orders or
Cooperative Society Act requires this
But
no member seems to object this act of " Name to Shame " !
What
has prevented banks from routinely declaring on their web sites :
*
Complete list of all loan-takers ( Companies / Individuals / Trusts / NGOs
etc )
*
Full details of loans ( amount / duration / interest rate / collaterals /
repayment schedule / sureties etc )
*
Names of bank officers who scrutinized and sanctioned loans
*
Cumulative arrears ( shown graphically )
*
Other entities ( including other Companies / Individuals ) inter-connected with
the defaulters
*
Details of Notices sent / Court cases filed / Recoveries made / Blacklisting
done , etc
After
all , most banks have PUBLIC as shareholders and therefore , need to be covered
under RTI Act
If
a bank is owned ( partially or totally ) by any government ( Central or State )
, it is covered under RTI
So
, why this secrecy ? Why this dragging of feet to take prompt action against
defaulters ?
I
recently heard of a Cooperative Housing Society in Hyderabad which has solved
the problem of members defaulting on payment of society charges
In
members' flats , Society has installed ELECTRONIC DIGITAL PRE-PAYMENT METERS
On
1st of each month, a member must key-in the amount ( of Society charges ) in
the Meter and authorize deduction from his bank account ( like Mobile Wallet ,
in collaboration with many banks concerned )
Failure
to do so will immediately result in automatic cutting off the electricity and
water supply to that flat !
I
suppose Andhra / Telengana State Cooperative Society Act permits this. Why
progressive Maharashtra does not ?
It
is no Rocket Science to extend the application of this SIMPLE
TECHNOLOGY to bank loan defaulters !
By
automatic freezing of personal bank accounts of ALL those who signed the loan
document ( takers & givers ) , the moment any repayment installment becomes
overdue by ONE DAY ? Also automatic revoke of PASSPORT ?
I
hope RBI governor , Shri Raghuram Rajan , gets to read my blog and floats a
Request for Proposal to Infosys / Wipro / TCS etc
--------------------------------------------------------------------------------------------------------------------------
hemenparekh.in / blogs
09
March 2016
hemen
parekh
Marol
, Mumbai , India
(
M ) +91 - 98,67,55,08,08
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