(a) the details of term loan provided by various public sector banks during current financial year, bank-wise,
(b) whether taking loans from banks is very difficult whereas it is regularly announced that the procedure of
loan has been simplified;
(c) if so, the details thereof; and
(d) the steps being taken to streamline this system so that better services can be provided to the common man by the banks?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI S.S. PALANIMANICKAM)
(a): The information is being collected and will be laid on the Table of House.
(b): No, Sir.
(c): Does not arise.
(d): The Reserve Bank has advised banks to prepare well-defined Loan Policy and Loan Recovery
Policy approved by their Board of Directors. The Loan Policy should lay down exposure limits
to individual / group of borrowers, documentation standards, Sectoral exposure limits, delegation
of powers including for write off and review procedures maturity and pricing policies, factors to
be taken into consideration for deciding interest rates above the floor rate etc.