Moneycontrol
Last Updated : Nov 30, 2018 08:30 PM IST | Source: Moneycontrol.com

Macro@Moneycontrol | Empowering PSU Bank chiefs to catch wilful defaulters

Gaurav Choudhury, Deputy Executive Editor, Moneycontrol gives his insights into how giving bankers a direct line to the Home Ministry could help prevent white collar criminals from fleeing the country.

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The government has authorized PSU Bank chiefs to be able to request look-out circulars (LOC) against wilful defaulters. Apart from institutions like the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED), even PSU Bank CEOs will now be able to send the LOC request.

These will be directed to the Ministry of Home Affairs against defaulters who they believe could flee the country to avoid prosecution or repay loans. Gaurav Choudhury, Deputy Executive Editor, Moneycontrol gives his insights into how giving bankers a direct line to the Home Ministry could help prevent white collar criminals from fleeing the country.
First Published on Nov 30, 2018 08:30 pm
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