KOCHI: Positive aspect of the demonetisation, slowly emerging is that loan defaulters are suddenly showing interest in settling money they owe to the banks. Defaulters can use the banned notes to repay their loan. "Government of India wants everything to be tracked - and here, somebody has taken the loan, repaid it and has a source to show. "Recovery of bad loans is going to happen as a result of the demonetisation, even if it is in a limited way. In Tamil Nadu, one of the defaulters who had avoided all chances of settling his debt suddenly paid the initial token amount for his bad loan of Rs 50 lakh.There are few other accounts of the similar nature, where the defaulters are inquiring the possibility of settling the loans with the old currency," he said.

Source: Times of India November 15, 2016 04:43 UTC