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FinMin, RBI crack whip on defaulters, prepare for tough action

FinMin, RBI crack whip on defaulters, prepare for tough action

Saturday, March 11, 2017, 3:37 PM

Finance Minister Arun Jaitley Friday met the heavy duties representatives of the RBI, including Urjit Patel to discuss means to tackle bad loans that have weakened the balance sheet of major public sector banks. Government is preparing for tough actions against wilful defaulters. The defaulters will be charged for diverting loan funds else where and selling assets pledged to get loans.
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