Bank Unions threatens to disclose names of 7000 willful defaulters

Days before when bank employees set to go on nation-wide strike, All India Bank Employees Association (AIBEA) threatened to disclose names of 7000 wilful defaulters on July 19.

Last week, United Forum of Banks Unions in a notice said that nearly 10 lakh banking employees and officers of public sector will go on a strike on July 29 in order to oppose anti-people government policies on bank reforms.
 
During a media interaction, CH Venkatachalam, General Secretary of AIBEA, said that around Rs 70,000 crore public money has been blocked with wilful defaulters as per the data available till March 2016.

“Rather than taking serious action against such wilful defaulters, the government is giving them concessions in the name of Strategic Debt Restructuring (SDR),” Venkatachalam said.

Earlier, ZeeBiz had reported that the strike has been called against the banking reforms that the Union government had initiated earlier in July. Under the reforms, associate banks of State Bank of India (SBI) will be merged with the latter.

Further, Venkatachala, said, "No serious action is being taken by the government and RBI to recover these huge bad loans. On the other hand, concessions are being given to them. Government must take criminal action against wilful defaulters".

Finance Ministry is planning to merge other public sector banks to reduce their number to 10.

In June, public banks, Bank of Baroda and Punjab National Bank declared the list of willful defaulters. 

According to a PTI report, PNB named 913 willful defaulters, including Kingfisher Airlines, with the total dues of Rs 11,486 crore. 

While, as per a MoneyControl report, Bank of Baroda tagged 186 borrowers as defaulters who owes the bank a total of Rs 1663 crore.