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Bank unions planning to disclose defaulters' names

The United Forum of Bank Unions, consisting of nine bank unions, said on Thursday that it was planning to publicise the names of bank loan defaulters and hold demonstrations outside their offices and residences.

''We will bring out a booklet consisting of names of bank loan defaulters in the near future besides holding demonstrations outside the residences and offices of these defaulters'', the Delhi convenor of UFBU V K Gupta said.

''The NPAs of over Rs 500 billion have been largely due to these defaults and the public and the bank employees are being made to suffer for this for no fault of theirs'', Gupta said.

Gupta also said the process of debt recovery tribunals were slow despite the decision to increase them by the government.

''We have all the information of the defaulters and will bring it in a book form to circulate it to the press and media'', the Union leader said.

On the issue of deposits, Gupta who is also the president of State Bank Collectors Federation said the lowering of deposit rates by the management of the nationalised banks would not augur well for these institutions.

He said efforts are on to wind up the SBI Collectors Federation, which will render about 800 of the commission agents jobless.

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