FM Nirmala Sitharaman on Bank Loan Repayment, Says 'Govt Instructed Banks Not to Take Hash Action'
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.
New Delhi, July 24: Union Finance Minister Nirmala Sitharaman on Monday said both public and private banks have been instructed that harsh steps should not be taken when it comes to the process of loan repayment and that they should handle such cases with sensitivity. 'If You Stop Eating Tomatoes, Prices Will Come Down': Uttar Pradesh Minister Pratibha Shukla’s Statement on Tomato Price Rise Sparks Controversy.
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. FM Nirmala Sitharaman Meets Chinese Counterpart Liu Kun, Discusses Global Debt Vulnerabilities (See Pics).
"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.