| 40 defaulters owe Rs 208 crores to banks in J&K, suits pending in courts | | DPS, KP Papers, Choudhary Motors, Astha Nursing Home on notorious list | | Abodh Sharma
Jammu, July 19: At a time when almost half of the population of the country still does not have any access to banks, Forty odd defaulters of the state owe more than Rs 208 crores to different banks operating in Jammu and Kashmir, adversely affecting the financial health of these banks and their capability to extend loans to needy consumers, farmers, students and entrepreneurs.
Interestingly, these defaulters include big industrial houses, reputed educational institutions, private hospitals and hotels, whose owners have made huge fortunes, but have willfully, defaulted in repaying their loans borrowed from banks.
The list of defaulters who have borrowed loans above one crore and against whom the banks have filed suits in the courts of law was published today by the state unit of All India Bank Employees Association to make the public aware that how a few defaulters had been bleeding the balance sheets of the public sector banks thereby affecting the potentially honest customers.
The list includes Delhi Public school, which owes Rs 2.6 cr to Jammu and Kashmir Bank, Aastha Nursing Home which owes Rs 2.05 cr to JK Bank, Anand Spring Mattresses that owes over Rs 5.19 cr to Punjab National Bank, BBF industries which owes over Rs 21 cr to JK Bank, Choudhary motors which owes Rs 9.97 cr to JK Bank, Jhelum Roller Flour Mills which owes Rs 4.38 cr to JK Bank, K.P Papers, which is defaulter of two banks, owing Rs 23.3 cr to State Bank of India and Rs 22.8 cr to the Punjab National Bank, Singh Hospitality and Resort, which owes Rs 6.76 cr to Punjab and Sindh Bank, Viraj industries which owes Rs 11.7 cr. to Punjab National Bank, Punjab Milk food Private Limited which owes Rs 15.37 cr to Indian Overseas Bank, New India breweries which owes Rs 10.58 cr to State Bank of India, Tramboo Joinery Mill that owes Rs 1.84 cr. to JK Bank among others.
Besides these registered firms, the list also includes names of individuals who have defaulted in repaying huge loans. The list includes Imtiaz Ahmad Shah who owes Rs 1.06 cr to JK Bank, Manzoor Ahmad Rather, who owes Rs 1.7 cr to JK Bank, Ghulam Qadir Majahan, who owes Rs 1.49 cr. to JK Bank, Zahoor Ahmad Mir, who owes Rs 2.02 cr to JK Bank, Ghulam Sibtan Masoodi, who owes Rs 2.63 cr to JK Bank.
While talking to ET, Com. Arun Kumar Gupta, General Secretary, Jammu Province Bank Employees Federation said, " 90% of the rural villages in our country are unbanked and people of these areas have no access to basic banking services. Similarly, more than Rs 50 crores of our people still do not have a bank account. We need to make banking a fundamental right of the people. We need to strengthen and expand public sector banking. We need more and more Governmental guidance and policies that will ensure vibrant public sector banking." |
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