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New Delhi, April 12
The Supreme Court on Tuesday decided to go into the problem of “huge bad debts” of nationalised banks.
A Bench headed by Chief Justice TS Thakur issued a notice to the Union Finance Ministry and the Indian Banks’ Association seeking their response within two weeks.
The ministry and the association were originally not named as respondents in a PIL over the non-performing assets problem of just one bank.
While hearing the PIL by the Centre for CPIL, the Supreme Court had sought information from the Reserve Bank of India on outstanding loans wherever the loan amount was in excess of Rs 500 crore.
The RBI gave this information to the court in a sealed cover, pleading with the Bench not to disclose the outstanding amounts.
After perusing the information, the Bench said the bad loans were indeed very large and decided to go into the issue.
It asked petitioner’s counsel Prashant Bhushan and the RBI to frame the points that should be considered by the top court and posted the next hearing for April 26.
