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Govt told banks not to take harsh action against borrowers for loans: FM

Sitharaman said this while making an intervention during the Question Hour in the Lok Sabha on a question related to the repayment of loans taken by small borrowers

Illustration: Binay Sinha

Illustration: Binay Sinha

Press Trust of India New Delhi

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Union Finance Minister Nirmala Sitharaman on Monday said both public and private banks have been instructed that harsh steps should not be taken when it comes to the process of loan repayment and that they should handle such cases with sensitivity.
Sitharaman said this while making an intervention during the Question Hour in the Lok Sabha on a question related to repayment of loans taken by small borrowers.
"I have heard complaints about how mercilessly loan repayments have been followed up by some banks. The government has instructed all banks, both public and private, that harsh steps should not be taken when it comes to the process of loan repayment and they should approach the matter with humanity and sensitivity in mind," she said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jul 24 2023 | 2:41 PM IST

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