The Minister of State in the Ministry of Finance (Shri Namo Narain Meena)
(a) Based on the information received from Reserve Bank of India, the Public Sector Banks
(PSBs) outstanding loans for housing and vehicles as at end of March 2010, March 2011, March
2012 and September 2012 Is attached in Annexure-I
(b) to (d): The repayments in most of the Home and Auto Loans accounts are done in timek
However, in some accounts, repayments are not being done in time and these accounts are
classified as Non-Performing Assets (NPA).
The following action (s) are taken/ being taken by banks against defaulters:
(i) The account holders of impaired Loan accounts are being followed up vide Telephonic
calls/Letters/Personal calls.
(ii) Wherever required cautions of action under Photo publishing.
The details of action taken under SARFAESI Actis in the Annexure-ll
(iii) Account Tracking Centre (ATC) has been launched at all Local Head Offices for telecalling of borrowers in Special Monitoring accounts (SMA) and NPA categories
(iv) In term of RBI`s circular, each bank is required to have a loan recovery policy Th recovery of NPAs is being done by the banks by following the laid down recovery policy and taking recourse to options available under law like; taking recourse to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security-Interest Act. 2002 (SARFAESI Act,), Debt Recovery
Tribunals (DRTs), Lok Adalats and Compromise/One Time Settlement. The SARFAESI Act allows
enforcement of Security interest and one of the methods of recovering secured debts of -banks
is to take possession of the secured assets, i.e the property on which security interest is
created.
