Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do.

There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Tuesday, 8 March 2016

NPA ? or is it NPB ?

NPA = Non Performing Assets ( bank loans not being repaid )

NPB = Non Performing Bankers  ( bank officers not being prosecuted )

Recently , Supreme Court asked RBI for a list of entities , who are defaulting on loans of Rs 500 Crores or more

Suddenly , a few banks started publishing  lists of their own loan defaulters
What is the big deal ?

Several thousand Cooperative Housing Societies in Mumbai , have been , routinely publishing on their Notice Boards ( equivalent to the web sites of the banks ? ), names of society-members who have failed to pay their monthly society charges ( includes Municipal Property Tax ) - including cumulative arrears

They have been doing so for years . I don't know if Model Standing Orders or Cooperative Society Act requires this

But no member seems to object this act of " Name to Shame " !

What has prevented banks from routinely declaring on their web sites :

*  Complete list of all loan-takers ( Companies/ Individuals/ Trusts / NGOs etc  )

*  Full details of loans ( amount / duration / interest rate / collaterals / repayment schedule / sureties etc  )

*  Names of bank officers who scrutinized and sanctioned loans

*  Cumulative arrears ( shown graphically )

*  Other entities ( including other Companies / Individuals ) inter-connected with the defaulters

*  Details of Notices sent / Court cases filed / Recoveries made / Blacklisting done , etc

After all , most banks have PUBLIC as shareholders and therefore , need to be covered under RTI Act

If a bank is owned ( partially or totally ) by any government ( Central or State ) , it is covered under RTI

So , why this secrecy ? Why this dragging of feet to take prompt action against defaulters ?

I recently heard of a Cooperative Housing Society in Hyderabad which has solved the problem of members defaulting on payment of society charges

In members' flats , Society has installed ELECTRONIC DIGITAL PREPAYMENT METERS

On 1st of each month, a member must key-in the amount ( of Society charges ) in the Meter and authorize deduction from his bank account ( like Mobile Wallet , in collaboration with many banks concerned )

Failure to do so will immediately result in automatic cutting off the electricity and water supply to that flat !

I suppose Andhra / Telengana State Cooperative Society Act permits this. Why progressive Maharashtra does not ?

It is no Rocket Science to extend the application of this  SIMPLE TECHNOLOGY  to bank loan defaulters !

By automatic freezing of personal bank accounts of ALL those who signed the loan document ( takers & givers ) , the moment any repayment installment becomes overdue by ONE DAY ?

And automatic / instant revoking of PASSPORT , without having to approach Supreme Court  ?

I hope RBI governor , Shri Raghuram Rajan , gets to read my blog and floats a Request for Proposal to Infosys / Wipro / TCS etc


hemenparekh.in / blogs

09  March  2016


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