Catholic Syrian Bank’s ‘name and shame’ campaign starts paying dividends

Catholic Syrian Bank’s ‘name and shame’ campaign starts paying dividends (लाभांश) 

The ‘name and shame campaign’ initiated by Catholic Syrian Bank Employees and Retires against wilful defaulters (जान-बूझकर ऋण चुकानेवाला) in Kerala seems to have started paying dividends. Of the 30 defaulters identified by the bank with dues of more than ₹50 lakh each, 10 borrowers have

already approached the bank with settlement proposals, following dharnas organised at 20 locations in the State. According to EJ Kurien, DGM in charge of Asset Recovery, the bank has already received firm assurance (विश्वास) for payments worth ₹25 crore from defaulters.The bank is now looking at getting these accounts closed before March.  However, non-availability of adequate(पर्याप्त)  cash with the borrowers post demonetisation is posing a challenge, he stated.The benefit derived from the campaign is that the bank has succeeded in sending a strong message to defaulters not to avoid loan repayments.