Nationalisation was done looks mainly to enjoy public money by Indian politicians.What UPA Government did by waiving off 60000 Cr loan to farmers and most of the defaulter mainly big -politicians and big farmers got the benefit where as honest farmer who paid on time got nothing.Indian leaders treat Public sector bank and money as theirs .Most of the schemes floated by govt are being misused Have govt reviewed the BPL names where families Now getting 60000-70000 salary per month are also taking advantage of BPL.time has come to penalise such families by way of jail term.
Bank nationalization was the biggest hoax that the GOI played on the Citizens. Who has benefited? You will find mostly politicians, bureaucrats and Senior officials have benefited by giving huge loans to undeserving businessmen without following prudent norms. A classic case is Indian bank where an ex-Chairman was made the scape goat but the politician involved it was a big gun and the Chairman had to take the rap. recently Kingfisher airlines also is reported to have defaulted on huge loans. The list is endless. The business houses which are having strong and powerful connections at the right places will never get caught. Primarily because it is public money, no one is bothered. All cases of defaults should be put in the public domain. The officials who are responsible for giving huge loans without due diligence should be given exemplary punishment. Then only the names of the politicians and bureaucrats involved to sanction the loan, though there will be no written proof, will come out. But will this ever come out in our country. If a poor workmen steals even Rs. 100/-, he will face dismissal from the job. But no such thing for these powerful people. Can we expect to know the truth in all these defaults. It is very much doubtful. This milking of cash cow will continue.
Re: Bank Nationalization
by Amit on Jul 21, 2015 04:23 PM
Even without nationalization American banks do the same .....the CEA is clueless loose talker
Sir, With all respect for your wisdom, I disasgree with your assessment. Only because of nationalisation, banks have come to doorsteps of rural areas, giving services to many, extending loans to priority sector which was not the case. Private sector banks came in only to gather cream created by liberalisation. They dont appear for any government led initiatives.
Being in a position like yours first justify whether the principle was wrong or the implementation & the people implementing it & then comment please.See the benefits that have accrued & would have accrued if the money were not doled out to Tycoons. Please think from the level of a common man using your intellect.
