PAC summons four banks to find out big loan defaulters

Parliamentary panel to visit Chennai Feb 27 and Kolkata March 1 to discuss bank NPAs

The Public Accounts Committee of Parliament has summoned top officials of Indian Bank, Indian Overseas Bank, Allahabad Bank and UCO Bank to discuss their major loan defaulters and find out what action is being taken to recover the tax payer’s money.According to sources, the PAC, headed by Congress lawmaker K V Thomas, is keen to find out the details of huge loans given by the banks to corporates including the basis on which such favours were extended. The panel will further probe if the loan amount has been diverted by the defaulters for projects other than what they told the