Don't Let Loan Defaulters Contest Polls: Bank Employees to EC

Published: 24th March 2014 08:06 PM  |   Last Updated: 24th March 2014 08:06 PM   |  A+A-


Claiming that banks were suffering huge losses due to bad debts, several bank employees have demanded that loan defaulters should not be allowed to contest Lok Sabha elections.

A letter in this regard has been written by All India Bank Employees Association (AIBEA) to Chief Election Commissioner, Punjab Bank Employees Federation Secretary Naresh Gaur said today.

In the letter, bank employees have said nomination of candidates who are bank loan defaulters should be rejected and the rules regarding disqualification as provided in the Constitution and Representation of People Act, 1951 be suitably amended for this purpose.

"In the letter, we have demanded that bank loan defaulters should not be allowed to contest in the coming Lok Sabha elections and they also should be debarred from holding public offices," said Gaur.

He claimed bad loans of banks had shot up from Rs 39,030 crore in March 2008 to Rs 1.64 lakh crore as on March 31, 2013.

Banks had written off Rs 1.18 lakh crore bad loans in the last five years, which has adversely affected their profitability, he claimed.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp