‘Corruption in banks prompted me to file the RTI application’ | mumbai | Hindustan Times
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‘Corruption in banks prompted me to file the RTI application’

Manoranjan Roy, an RTI activist since 2006, has filed over 400 RTI applications. His recent application to the RBI on loan defaulters and the subsequent letter to the President of India and other government agencies has led to a CBI investigation on the issue.

mumbai Updated: Aug 22, 2011 00:58 IST
Manish Pachouly

Manoranjan Roy, an RTI activist since 2006, has filed over 400 RTI applications. His recent application to the RBI on loan defaulters and the subsequent letter to the President of India and other government agencies has led to a
CBI investigation on the issue.

Roy spoke to HT on what prompted him to file the application on loan defaulters.

When did you file the RTI application with the RBI?
I filed it on October 5, 2010 and got a reply from the RBI on November 2, 2010.

What further action did you take on the facts stated in the reply?
On June 21, I wrote to the President of India and marked copies to other government agencies including the law ministry, ,ministry of Finance, ministry of Corporate Affairs, RBI and CBI in New Delhi. On Tuesday, I was called by the BS&FC branch of CBI in Mumbai, which recorded my statement.

What prompted you to file an RTI on loan defaulters?
I felt that there is lots of corruption in many banks, which give loans to big companies without proper verification. Such things cannot happen without the involvement of insiders in the banks. Also, if loans are not recovered it affects the economy.

Do you think banks can recover loans from defaulters?
Since there are a large number of willful defaulters, it is not difficult to recover loan amounts from them, as they deliberately show losses. As for the others, I think banks can recover the loans by selling their mortgaged properties.