Making process of grant of loan, declaration of NPA cumbersome will result in policy paralysis: SC

Updated: Jan 25 2023 8:34PM

New Delhi, Jan 25 (PTI) The Supreme Court said on Wednesday it needed to balance various aspects related to public money and bank fraud as making the grant of loan and declaration of Non-Performing Assets (NPAs) cumbersome will ultimately result in "policy paralysis".

The top court said making the banking process cumbersome will lead to a situation where officials will fear taking any decision with regard to grant of loan and NPAs.

The top court was hearing a 2003 PIL filed by NGO Centre for Public Interest Litigation (CPIL) seeking directions to curb bank frauds, non-performing assets and prosecution of wilful defaulters.