Journalist Diary-Can banks recover bad loans from corporate firms?
More time is needed to probe cases under economic offenses. By the time verdict is delivered, accused are escaping to other countries. One such example is UB Group Chairman Vijay Mallya. Recently, employees of Punjab National Bank have staged a protest in front of former MP Kavuri Sambasiva Rao’s residence seeking him to repay bank loan. Big loan defaulters are those who have secured loans by colluding with bank officials. Nationalised and private banks have to recover bad loans worth 4.5 lakh crores by the end of December 2015.
Tags: Economic Offenses, UB Group Chairman, Vijay Mallya, Punjab National Bank, Kavuri Sambasiva Rao, Big Loan Defaulters, Bank Officials, Bad Loans,
Tue, Mar 22, 2016, 10:20 AM
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