Strict Action to be taken against willfull defaulters.
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Due to rising Non Performing Assets (NPA), constant pressure is given on bank officers to recover bad loans, but due to lack of proper mechanism to recover loans, there has been a rise in willfull defaulters and hence, loans tend to become a non performing asset. Due to the weakness in the existing system in which all the pressures are given to the bank officers to recover bad loans and no extreme measures taken against the borrowers, borrowers do not shy away from becoming willfull defaulters. Even after repeated reminders from the bank to repay their installment amounts, they are not hesitant to ignore the reminders as they are aware of the fact that bank officials are at their disposals since there is no such extreme mechanism to recover loans except the reminders and the repeated calls from the bank. Hence, it is an urgent and needfull plea from a bank officer to the government to take immediate steps in order to save the banking economy from rising NPAs due to the result of willfull defaulters.
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