[sbinews] Banks to flex muscle to recover loans (Times of India website)
- From: "Rajendra S. Pai" <rspai9@xxxxxxxxx>
- To: sbinews@xxxxxxxxxxxxx
- Date: Tue, 6 Jul 2004 20:05:40 -0700 (PDT)
NOTE: SBINEWS DOES NOT PERMIT CIRCULATION OF ATTACHMENTS. ATTACHMENTS, IF ANY,
CIRCULATED WILL BE ONLY BECAUSE OF VIRUSES. PLEASE,THEREFORE, IGNORE
ATTACHMENTS IF ANY IN SBINEWS MESSAGES
************************************************************************
Banks to flex muscle to recover loans
(Times of India website)
IANS[ TUESDAY, JULY 06, 2004 04:39:48 PM ]
PATNA: Commercial banks in Bihar have decided to hire
private security agencies to help them recover loans
running into billions of rupees.
Leading banks, both private and public, like the State
Bank of India (SBI), Punjab National Bank and ICICI
have decided to use some muscle power to recover the
money loaned to individuals, companies and trading
houses.
"We have no option but to hire private security
agencies," said a senior SBI official, adding that the
strong-arm tactics could help the bank get back Rs. 2
billion from defaulters.
The focus will be on loans higher than Rs. 2.5
million, with the 61 SBI branches in the Patna
division concentrating on loans given between 1970 and
2001.
Almost all private banks in Bihar's major cities will
use security agencies to get back their money.
The Bihar Industries Association has strongly
condemned the move.
=====
From:
R.S.Pai
Web Address: http://rspai.tripod.com
__________________________________
Do you Yahoo!?
Yahoo! Mail - Helps protect you from nasty viruses.
http://promotions.yahoo.com/new_mail
***************************************************************************
Mailing list (sbinews@xxxxxxxxxxxxx) related information:
News/articles about SBI and Banking related matters published in the print
media, Internet etc will be circulated through this Mailing List.
The messages in this list will help in improving awareness of SBI and its
activities vis-a-vis the happenings in the Banking industry. This should be of
help to all staff members of SBI, particularly those who are preparing for
promotional written tests/interviews/group discussions. Subscription to this
Mailing List is simple and FREE. Please check the procedure below. Please share
this information with other colleagues/branches that could be interested in
subscribing to this Mailing List.
The messages circulated here should not be deemed to have the official
endorsement of the SBI or any of its employees. The correct factual position
may be ascertained from official sources.
To join this mailing list, just send an email to sbinews-request@xxxxxxxxxxxxx
with the word 'subscribe' without the quotes in the subject of the email
message.
To leave this mailing list, just send an email to sbinews-request@xxxxxxxxxxxxx
with the word 'unsubscribe' without the quotes in the subject of the email
message.
Archives (old messages) are available for viewing at:
//www.freelists.org/archives/sbinews
Click on the month-year at the lower left corner to view messages posted during
that month.
This is an announcements/newsletter type mailing list i.e. only the Moderator/s
can post messages to the list.
This mailing list is maintained and moderated by Sri. R.S.Pai, currently
working as Chief Manager(IT-Internet Banking), SBI, Corporate Centre, Mumbai.
Visit http://rspai.tripod.com for some useful Banking, Reference and Utilities
Links
Other related posts:
- » [sbinews] Banks to flex muscle to recover loans (Times of India website)
