Excelsior Correspondent
JAMMU, Sept 25: Jammu Province Bank Employees Federation (JPBEF) held a protest demanding strict action to recover huge bad loans in the banking industry.
Large number of public sector bank employees and officers assembled at Shalamar Chowk under the banner of Jammu Province Bank Employees Federation and raised slogans.
Addressing the gathering, Arun Kumar Gupta, general secretary of the Federation apprised the protestors that Government should tackle the problems of increasing bad loans in the bank instead of trying to push their various efforts and proposals to implement banking sector reforms like privatization, mergers, etc.
He said that sale of loans to private ARCs is on the increase, adding that last year alone, more that Rs 50,000 crores of bad loans have been sold away to Asset Reconstruction Companies.
Gupta added that sale of NPA is another fraud mechanism. There are proposals to setup bigger ARCs. It is nothing but a camouflage, he stated.
Ashwani Pradhan from Officer’s fraternity while addressing the gathering demanded that the Government should publish the list of defaulters, take stringent measures to recover the bad loans, stop sale of bad loans and start recovery of NPAs.
Among others present were Vijay Zutshi, Ganesh Kumar, RK Bamba, Sumrita Kher, Manjit Singh, TK Tikoo, Vinod Gupta, RK Bhat, Hardev Singh, Anil Gupta, Kamal Kundal, Rama Kant, etc.
Follow our WhatsApp channel