MIN RATNA BAJRACHARYA

The Finance Ministry has issued a blacklist of 300 bank defaulters and has pledged to take action against them. When previous administrations tried to do this, the process was halted because of political pressure. In all past efforts, only those who defaulted on their debts were targeted. This government is making the same mistake. There has been no move to question those who dole out loans recklessly or because they are in cahoots with willful defaulters.

When a bank loan is arranged, the bank's management is also responsible for verifying the customer's ability to repay. It is the bank's responsibility to weigh out possible risks and calculate the assurance of the security of the loan being paid back. The list of defaulters also includes foreigners. Coincidentally, these foreign defaulters took loans from banks that have a representation of the national bank of their country of origin. It's unlikely that a government that is so easily coerced into letting off Nepali defaulters will pursue foreigners.