It was difficult to imagine Rana Kapoor of Yes Bank , Chanda Kocchar of ICICI Bank, Wadhawan of DHFL, Anil Ambani group, Subhash Chandra Group, Essar group , Nirav Mody and Vijay Mallya will go down in India.
It was believed these class of people are invincible.
The common factor among all were Bank and their difficulty in repayment of loans.
Considering the difficulty of having control over reckless lending, following should be proposed by Reserve Bank of India:
1. Any public institution (accepting deposits from general public) lending more than Rs.100 crores should be made to disclose the name of the entity (Company name and promoter group) on their websites and Reserve Bank of India (RBI) website.
2. The data should be presented in the RBI website promoter group / bank wise. XYZ Group Rs.10,500 crores with names of banks.
3. The public institution should disclose their loan outstanding on a Quarterly basis i.e. Loan Rs.500 cores (principal and interest to be shown separately) and repayment of (Principal and Loan) on a quarterly basis should be displayed. Same should be displayed on the RBI website also.
4. The report should be signed by Chief Executive Officer and Chief Financial Officer.
To be displayed on every public institution's website:
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Group
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Principal
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Interest
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Balance
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Last paid date
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Note: Above format can be altered and improved to give more details regarding the loan status of a group. The format should be common across all institutions and easily downloadable. RBI should provide the same format but for all banks combined.
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