When an ordinary person is required to provide so much security and other formalities to get a loan, it is not clear how they have given lakhs of crores of rupees which has not been paid back. Is there no insurance coverage for such defaults? Can they not take action on the erring officials who had given such loans and also what are the options for the banks to get back the loan amounts given? Can you please explain these for our knowledge.
When an ordinary person is required to provide so much security and other formalities to get a loan, it is not clear how they have given lakhs of crores of rupees which has not been paid back. Is there no insurance coverage for such defaults? Can they not take action on the erring officials who had given such loans and also what are the options for the banks to get back the loan amounts given? Can you please explain these for our knowledge.
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