- List of top 406 defaulters of Rs. 1 crore and above according to All India Bank Employees’ Association (AIBEA):
- Kingfisher Airlines , Winsome Diamond & Jewellery Co., Electrotherm India, Zoom Developers Pvt. Ltd., Strerling Bio Tech, S. Kumars Nationwide, Surya Vinayak Industries, Corporate Ispat Alloys, Forever Precious Jewellery & Diamonds, Sterling Oil Resources and Varun Industries.
- AIBEA said:
- The govt of not doing enough to get back the hard-earned money of the depositors.
- There is a nexus between bankers, top corporates and the govt which is helping the corporate loot people.
- De-regulation has led to a 4-fold increase in bad loans.
- The mounting pressure by politicians on banks to write off loans or sanction fresh loans amounted to Rs. 2.04 lakh crore.
- The non-performing assets (NPAs) of banks were the money fraudulently siphoned off from the banking system.
- Demands:
- Amendments of laws to speed up recovery of bad loans and implementation of stringent measures to recover bad loans, which has now increased 4-fold.
- Periodically publish the list of defaulters.
- Take swift criminal action against wilful defaulters.
Exams Perspective: