Supreme Court asks RBI to submit details of loan defaulters | Inside Blip 11111
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Supreme Court asks RBI to submit details of loan defaulters


“We direct the RBI to file a detailed affidavit mentioning about the list of the companies which are defaulters of loans”, Chief Justice T.S. Thakur said as he read out the Supreme Court’s interim order.The bench, also comprising Justices R Banumathi and U U Lalit, then asked a counsel, who used to appear for the RBI, “What are you doing?”The SC wants to know how public sector banks and financial institutions are advancing such huge loans without proper guidelines or an adequate loan-recovery mechanism, thereby putting a huge burden on the public exchequer.

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