On "Merciless" Loan Recovery, Finance Minister's Instructions To Banks
NDTV
Nirmala Sitharaman said banks should approach the matter with humanity and sensitivity in mind.
Union Finance Minister Nirmala Sitharaman today said the government has instructed both public and private banks that harsh steps should not be taken when it comes to the process of loan repayment and that they should handle such cases with humanity and sensitivity. 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 process of loan repayments and they should approach the… pic.twitter.com/vSbDVXVeAt
Ms 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.
"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.
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