Will the BJP govt positively see to it that PSU banks are adequately empowered by law to recover the bad debts. Writing of bad debts means the common tax payer burdened with the ill doings of large business houses who are the main defaulters.
Does he state the name of borrowers, Let him open,why he remained silent till to date,what made him to open his mouth know,How many cases were filed against defaulter,how much amount recovered or property confiscated, Does he give the list?
Don't give loans on land or buildings in India to corporate sector. Loan should be given based on book of accounts and not on market value. If market value let the companies raise resources on equity dilution. Then impact on banks can be minimised. Plus banks should have the power to take off any lands or buildings of promoter if the company doesnot clear loans in time even if they are not pledged. Law should be like that if they fail to manage company and its debt, they should become peasants immediately. Then only bad debts will come down.
Re: baddebtscorporate
by arvind potdar on Nov 29, 2014 07:58 PM
I agree. Loan should not be enhanced or restructured on "Revaluation" of assets. This concept of revaluation of assets is the mother of Corrupt Practices" in banking sector and for banking BABUS. All these bank babus are the toys in the hands of these corrupt business houses. By oiling the palms of few babus, any influential industrialist can fatten the assets by "Revaluation" method and get whatever amount of loan. And slowly and silently gets his particular company bankrupt. And enjoys lavish life with giving birth to various companies and establishments from the money siphoned from above method. Maximum punishment for bank officer responsible for the above act is only "Transfer" or "Long Leave" for so-called departmental inquiry. But most of the cases everybody get relived. Most of these fraudulent business people are either blessed by either bureaucrats or politicians. And a particular party and a Heavyweight politician active in Maharashtra had used this banking machinery so cunningly that most of his followers are experts in this type of fraudulent practice.
Dr. Raghuram Rajan is not surprised by the non-performing assets of public sector banks. He now has a free hand to say whatever he wants to do and whatever he has to do. He could not state his personal opinions when the Congress party is in power. This is a clear indication that the BJP under Narendra Modi means business.
By seeing the figure of NPA, or bad debt with companies, Mr. Rajan is surprised. I request Mr. Rajan to have view of the last 50 years. or else he can ask the Indian Express news papers to provide the report they were following quite few years giving 2 years running report about the happenings in the nationalized banks, altogether it may run into more than 25 lakhs crores I hope.Mr. Rajan the current 2,36,00 is nothing compared to the last 50 years record. It was a hobby for the govt to write off the bad debts, given to the henchmen of their own politicians. Indian express had clearly given report that behind every bad debt there is a politician at the tail end of the case. The govts revenue was looted by these bad debt writing off people for the last 50 years. The figure may not be available at all now. For writing off they used to christen a scheme to make it possible. For giving 100 rupees subsidy they will do 100 days discussion, Mr. Rajan is surprise with the current figure, then he will leave the job if he hears the previous lot.
By seeing the figure of NPA, or bad debt with companies, Mr. Rajan is surprised. I request Mr. Rajan to have view of the last 50 years. or else he can ask the Indian Express news papers to provide the report they were following quite few years giving 2 years running report about the happenings in the nationalized banks, altogether it may run into more than 25 lakhs crores I hope.Mr. Rajan the current 2,36,00 is nothing compared to the last 50 years record. It was a hobby for the govt to write off the bad debts, given to the henchmen of their own politicians. Indian express had clearly given report that behind every bad debt there is a politician at the tail end of the case. The govts revenue was looted by these bad debt writing off people for the last 50 years. The figure may not be available at all now. For writing off they used to christen a scheme to make it possible. For giving 100 rupees subsidy they will do 100 days discussion, Mr. Rajan is surprise with the current figure, then he will leave the job if he hears the previous lot.
What Mr Rajan explains if GIVEN CONCRETE form would do wonders for the Indian economy.Hope he gets all the support for his proposals.Instead of a mighty lump sum loan to one party Many a small loans to individual small entrepreneurs would give an impetus to the economy.
Namo will never do it. Afterall a cut of the defaulted amount goes to Bhrasht janta party
In the first loksabha. Krishnamachari the first FM forced LIC to give loans to 8 companies without due dilligence. All loans went bad. Feroz ghandhi created a storm in parliament and made Krishnamachari resign. Nehru started hating feroz and sidelined him and brought krishnamachari back.
