Longrangty & Imtinaro
Dimapur | January 23
Advertisement of names and photographs of State Bank of India loan defaulters needs no explanation, that the bank is determined to get back its money from defaulters. The SBI told The Morung Express that their main purpose in highlighting the names of defaulters was done mainly to educate the people and bring into light the fact that non-payment of loans are of serious concern and that the people needs to know its effect on the society.
Loans under the PMRY are loan policies from the central government that are made especially for the educated unemployed or those unemployed who wants to start business. But here in Nagaland, it is a different story, with TH Leo, Chief Manager (CSC), SBI Dimapur saying that 80% Nagas usually take loans ‘for granted’. The bank does not give loan for ‘charity’ but with a trust that the loaner will repay. He said that the bank actually does not want to list out names of the defaulters with photographs in the local print media, but after constant notice to defaulters of their non-payment, the bank had no other option but to do it in a more ‘exposing way’. If any loaner has ‘genuine reasons’ for non- payment or difficulty in payment, the bank can ‘look out for ways to help’ but when they don’t bring forward any then the bank has no other choice but to give notice or the like he said.
The chief manager in regard to the non-response of the defaulters (even after having their names and photographs on the papers) further said that the bank would go on to take ‘legal action’ against the defaulter.
The SBI in Nagaland is spread all over the state with 48 sub-branches, with the objective of reaching out to the people in their need and for social benefit as such wants the people to understand its objectives and cooperate so as to have a healthy continuum. He was also of the opinion that “the bank does not transect government’s money but customers’ money” and as such giving and receiving loans ‘should be a cyclic process’ and ‘not a stop’ on one end, as to maintain equilibrium in the society.
