Do banks apply differential treatments while giving loans to sensitive customers? Here's what Sitharaman said
India TV NewsHighlights 'No official stated policy directing banks not to give loans to certain categories of customers' 'Banks make assessments based on KYC and other ratings like civil ratings' MoS Finance said banks do have "problems" in lending to police and politicians Finance Minister Nirmala Sitharaman on Tuesday informed Parliament that the Centre has issued no specific directions to banks asking them not to give loans to "sensitive customers" like police personnel. Sitharaman, during Question Hour in the Rajya Sabha, said there is no "official stated policy" directing banks not to give loans to certain categories of customers. Minister of State for Finance Bhagwat Kishanrao Karad said banks do have "problems" in lending to police and politicians. Responding to another question on banks not lending to politically exposed persons, the Union Finance Minister said, ".this is more from the point of view of large sums of money are transferred from one account to another complying with the global requirement where the financial action on terror funding happens."
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