The All India Bank Employees’ Association (AIBEA) plans to stage protests in front of the corporate premises of loan defaulters of public sector banks. The association will decide on dates once the general election results are declared.
Announcing this at a press conference , CH Venkatachalam, General Secretary of the association, said the initiative is to register “our voice against the daylight robbery by big corporates”. There has been an alarming increase in bad loans with public sector banks, and “we demand stringent measures to recover them”, he said.
AIBEA represents more than five lakh employees in public and private sector banks. It also released a list of top 400 defaulters with dues ranging from a few crore rupees to a few thousand crores. Total bad loans from these borrowers exceed ₹70,000 crore, according to the list.
According to Venkatachalam , the total NPAs of public sector banks as on March 31, 2013 stood at ₹3,25,000 crore and the restructured portfolio of these banks stood at ₹2,36,000 crore.