Public Sector Banks To Publish Wilful Defaulters Photo on Websites

The finance ministry under Enhanced Access and Service Excellence (EASE) programme has directed all state-run banks to publish the names and photographs of all wilful defaulters on their websites. Earlier, The government has asked all state-run banks to examine non-performing loans of more than Rs 50 crore for any sign of fraud. 

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Further, DFS has also asked banks to follow the guidelines issued by the Reserve Bank of India on publishing of photographs of wilful defaulters are put on their websites. This guidelines needed to be followed by all the banks, which states that banks should formulate a policy with the approval of their board directors to set criteria for publishing such photographs.

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Banks are needed to place the matter before their board for appropriate action, in accordance with RBI directions on the matter.