Chidambaram urges banks to go easy on hard up borrowers

Finance Minister P. Chidambaram has urged bankers to make a distinction between those borrowers who have defaulted due to the slowing economic cycle and wilful loan defaulters.

“NPAs (non-performing assets) are not unusual and will remain when the economy is not performing well. Banks cannot abandon their clients but should hold their hand.

“As the economy improves, business improves, ‘mostly’ the non performing loans will get paid,” Chidambaram said in his speech at the inauguration of Canara Bank’s circle office in Mumbai.

Read more >>Click here