Chennithala seeks action against banks

Ramesh Chennithala

Ramesh Chennithala   | Photo Credit: H_Vibhu

Loan recovery procedures

Leader of the Opposition Ramesh Chennithala on Tuesday wanted strong action against banks that refuse to give sufficient time for defaulters to repay their dues.

Reacting to the Neyyattinkara suicides, Mr. Chennithala found fault with the government as it had failed to rein in the banks from initiating impending action against defaulters. The banks had disregarded the moratorium announced by the government soon after last year’s floods. Most of those who had taken loans were from poorer sections and farmers.

Finance Minister T.M. Thomas Isaac said the bank’s action ran against the spirit of the decision of a recent meeting of the State Level Banker's Committee wherein it was decided that banks would not throw out families in debt out of their homes by initiating revenue recovery proceedings.

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Printable version | Feb 28, 2020 3:39:44 PM |

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