Search
Union Government to Start Criminal Proceedings Against Loan Defaulters
August 08, 2017
Taking the case of mega loan defaulters to the next level, Finance Minister Arun Jaitley said that the government is going to initiate criminal and recovery proceedings against the RBI-identified top loan defaulters guilty of diverting the money. He also emphasized on the fact that no one can escape the reach of the law and order in the country.
Jaitley was speaking at a debate in the Lok Sabha which recently passed a new Bill that empowered the RBI to take a more direct and stringent action towards bad loan accounts. He said that the new Bill will greatly facilitate the recovery process as NCLP will dispose of every single big case within 3 months.
