Banks have asked the government for protection against the arbitrary arrest of board members for commercial decisions such as the granting of loans. They want similar immunity for executives deputed to boards of borrowing firms. The exemption could be on the lines of that available to the top brass of the National Bank for Financing Infrastructure and Development (NaBFID), they suggested.
The issue was discussed by banks internally at a meeting last week and a representation was subsequently made to the government, said people with knowledge of the matter.
Source:
Economic Times
