Govt instructed banks to avoid harsh measures against loan defaulters: FM
Finance Minister Nirmala Sitharaman

New Delhi: Union Finance Minister Nirmala Sitharaman on Monday said both public and private banks have been instructed that harsh steps should not be taken when it comes to the process of loan repayment and that they should handle such cases with sensitivity.

Sitharaman said this while making an intervention during the Question Hour in the Lok Sabha on a question related to repayment of loans taken by small borrowers.

Dear Reader,
Over the past four years, EastMojo revolutionised the coverage of Northeast India through our sharp, impactful, and unbiased coverage. And we are not saying this: you, our readers, say so about us. Thanks to you, we have become Northeast India’s largest, independent, multimedia digital news platform.
Now, we need your help to sustain what you started.
We are fiercely protective of our ‘independent’ status and would like to remain so: it helps us provide quality journalism free from biases and agendas. From travelling to the remotest regions to cover various issues to paying local reporters honest wages to encourage them, we spend our money on where it matters.
Now, we seek your support in remaining truly independent, unbiased, and objective. We want to show the world that it is possible to cover issues that matter to the people without asking for corporate and/or government support. We can do it without them; we cannot do it without you.
Support independent journalism, subscribe to EastMojo.

Thank you,
Karma Paljor

“I have heard complaints about how mercilessly loan repayments have been followed up by some banks. The government has instructed all banks, both public and private, that harsh steps should not be taken when it comes to the process of loan repayment and they should approach the matter with humanity and sensitivity in mind,” she said.

Also Read | In pursuit of love: Indian woman travels to Pak to meet Facebook friend

Trending Stories

Latest Stories

Leave a comment

Leave a comment