FIs wants RBI to list defaulters

FIs wants RBI to list defaulters
UNITED NEWS OF INDIA

NEW DELHI, DECEMBER 15: The Reserve Bank of India should collate information of wilful defaulters and share it with the public to ward off banks and financial institutions from lending further to them, according to the heads of two leading domestic FIs - ICICI Ltd and IFCI Ltd.

The RBI should make public the information of those who are wilfully defaulting to put pressure on the corporates to pay their dues back in time, K V Kamath, chairman and managing director, ICICI Ltd, said.

ICICI will be willing to share this sensitive information with other bankers in case the RBI gives the permission, he added. P V Narasimham, managing director of IFCI Ltd, said public disclosure of defaulting companies would help banks and FIs to contain and reduce their non-performing assets.