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Govt tells banks to publish photos of loan defaulters in newspapers

The central government is reported to have directed all the nationalised banks to publish the names and photographs of all the wilful loan defaulters in newspapers after getting approval from their board of directors.

Earlier, the government had made passport details mandatory for availing loans worth over Rs 50 crore.

Meanwhile, Minister of State for Finance Shiv Pratap Shukla disclosed that willful defaulters owe over Rs 1.1 lakh crore to the public sector banks.

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