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Indian bank union threatens to publish names of 7,000 alleged defaulters

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Indian bank union threatens to publish names of 7,000 alleged defaulters

The All-India Bank Employees Association has threatened topublish the names of 7,000 companies it claims have intentionally defaulted ontheir loans, as it demands litigation against them, the Press Trust of Indiareported July 16.

AIBEA said the alleged defaulters took about 700 billionrupees in loans. The group feels the Indian government has not actively soughtto resolve the matter and has asked authorities to file criminal suits againstthe companies involved, said C.H. Venkatachalam, general secretary of theorganization.

Earlier, the group had called for a July 29 against the proposedbanking reforms and merger of banks.

As of July 18, US$1was equivalent to 67.16 Indian rupees.