Banks may soon take passport details for granting loans above Rs 50 crore

[rahul1117kumar]

In an attempt to prevent willful defaulters from fleeing the country, the finance ministry has asked private sector banks (PSBs) to take passport details of borrowers with an exposure of Rs 50 crore and above, reported The Economic Times . Quoting a government official, the report goes on to say that the Fugitive Economic Offenders Bill (FOEB), which was passed by the Cabinet recently, will be tabled in the ongoing session of the Parliament. The official went on to say that there is an urgent need for more coordination between banks, intelligence agencies, and other government departments to prevent frauds that have crippled the banking sector.

"In cases where banks feel that there is some fraudulent activity in a particular account, they can inform the agencies in advance," he said.

Times Now

 

[Sai Jai]

Matter is not informing but matter is after informing action taken or snap taken ??

After send off there is no use of analyzing his email's for IP address

Though nowadays kids are know how to use VPN

The whole process is to threat middle class man who loaned 2L or 3L for housing but not for 2 lakh crore or 3 Lakh crore looters

Ridiculous!!!