RBI should take lead for publishing defaulters names: AIBEA

There are more than 5,600 wilful defaulters who together owe more than Rs 60,000 crore to the bank and let there be a beginning by RBI publishing these names, AIBEA General Secretary C H Venkatachalam said in a letter to RBI Governor Raghuram Rajan, a copy of which was mailed to UNI.

He said from AIBEA, we have also been demanding that only their names should be published but wilful default should be defined as 'criminal offence' and criminal action should be taken on these defaulters.

But in many cases, we find that such borrowers are able to manage restructuring of their loans and escape public note, Mr Venkatachalam said, adding that 'RBI can also suggest to the Union Government to prohibit wilful defaulters from contesting or holding public office'.

The AIBEA is of the strong view that in most of the cases involving the big ticket defaulters, there is lethargy, leniency and accomodation but when it comes to the common man, our experience is  different, he pointed out and said, atleast what is sauce for the goose must be for the gander too.

'We highly appreciate your bold diagnostic statements on these issues but unless strong steps is taken on the defaulters, this daylight robbery would continue,' the AIBEA General Secretary said.