No legislation to recover non-performing assets: Govt

Noting that public disclosure of names of bank loan defaulters could harm investors’ interests, Government today ruled out a legislation to recover non-performing assets. “Government’s interest is to reduce NPAs and recover outstanding loans from big, medium and small defaulters,” Finance Minister Pranab Mukherjee said in the Lok Sabha.

He was replying to supplementaries by Basudeb Acharia (CPM) and Lalu Prasad (RJD) during Question Hour.

Both Acharia and Prasad demanded tabling of the names of big defaulters and blamed big corporate houses and “industrial families” for dodging laws. Prasad demanded that assets of such defaulters be seized.

He said SP chief Mulayam Singh Yadav has names of 130 industrial houses who have defaulted on loans.