Indian Wilful Bank Defaulters should be punished same way as in China
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Dear Prime Minister of India,
Common people after following all the rules and living their life simply struggling to get credit from the banks. At the same time, the influential people who are able to get bank loans did not pay and lead a lavish life and that is currently threatening the nations financial security. We are reading and hearing in the news that our government is getting ready to infuse 50000 Crores in to the banking system to save the system. Retail credit according to the news sources is at weakest point due to non-payments. We are not against one individual. Infusing the banks with cheap money may help temporarily. But, it does devalue the money we have in our savings. My request to you is punish the culprits like China did. Here's what China did.
There are 67.3 lakh Chinese citizens on the Chinese Supreme Court’s blacklist, Global Times reported, quoting the Meng Xiang, the head of the court’s enforcement bureau. So far, 61.5 lakh people have been barred from purchasing plane tickets and 22 lakh cannot travel by high-speed trains. Around 71,000 defaulters cannot serve as corporate representatives or executives. The Supreme People’s Court, China’s apex court, has shared the defaulters’ ID card and passport information with airlines and railway companies. Previously, only ID card numbers were blacklisted and defaulters used their passports to circumvent the ban. But that loophole has been plugged now. The Industrial and Commercial Bank of China, one of China’s largest commercial banks, has rejected lakh loan and credit card applications. The blacklist includes government staff, members of local legislative and political advisory bodies and Communist Party of China congress delegates, Meng said.
Let them not travel by air, Seize their passports, so, they do not leave the country. If we do not do this, This will repeat and the country will be ruined further by them and most likely they are the ones who will benefit from your 50000 Crores package.
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