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Bank union seeks investigation into top 100 NPA accounts

Press Trust of India  |  Hyderabad 

A union of employees today asked the Centre to order an investigation into the top 100 NPA account holders.

The probe in these accounts should be carried out by the Serious Investigation Office (SFIO) or any other competent agency, the Employees' Federation of (BEFI) said.

The non-performing assets (NPAs) of the public sector banks have increased to about Rs 8 lakh crore, of which 89 per cent pertains to corporate accounts, the ( and Telangana) said in a statement.

"We demand that of institute a thorough investigation by the SFIO or any other agency into the affairs of top 100 NPA account holders, take all necessary steps to recover the dues, declare the names of corporate defaulters and save the public sector banks, taxpayers money and the Indian economy," the union said.

Most of the loans to corporates, which later became NPAs, were sanctioned by corporate offices and the boards of individual banks, it alleged.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 09 2017. 19:57 IST