Centre urged to enact laws for effective loan recovery

Tirupati: Punjab National Bank (PNB) Employees Union Andhra Pradesh and Telangana general secretary K V Ramanamurthy demanded that the Centre should bring special laws to enable the banks for effective loan recovery which is crucial for the banks viable functioning.

Speaking at a meeting of PNB employees here on Saturday, Ramanamurthy expressed serious concern on the growing Non-Performing Assets (NPAs), particularly, the big defaulters hindering the banks performance and warned that if the big borrowers allowed to go scot-free, it will doom the banks and hit hard the poor and the employees.

Reminding that the nationalised has been in the forefront in lending liberally to agriculture on which majority of the people of the country still depending for living and industrial sector responsible for generation of employment and growth of the nation.

National Bankers Association (NBA) rigid stand coming in the way of bank employees getting a fair deal, he criticised, reminding that the 11th Pay Revision is pending since November 2017, adding that the six percent hike in the salary is not acceptable to the employees working in various nationalised banks.

PNB Employees Union state president J Dhanvat Kumar, union leaders JLB Prasad, Ramesh and others also spoke.