State Bank of India to name and shame defaulters
In a desperate act to rope in defaulters the State Bank of India has decided to name and shame 'wilful' defaulters and put their pictures in newspapers, an asiaone report quoting Economic Times said.
A bank's executive said the act could offend some people. 'Wilful defaulters' are those who do not pay despite having funds at their disposal.
Bad loans in India could jump to as much as 5.8 per cent of the total within two years in a "severe risk" scenario, up from 2.8 per cent in September, according to a central bank report.
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