It is evident change of govt. even thrice have not made much difference when it comes to corruption in high places due to the nexus of Parliament, politics, the bureaucracy, the media, the banks !It is really alarming that although the Bank NPAs issue had been flagged by the media as early as 2002-03 in the post economic reform era but over the decade things have only further aggravated rather than improving towards reduction in NPAs. With the latest episode of the ease with which Vijaya Mallya has fled the country in full glare of govt and a much more alert and stronger 24x7 media it is very obvious the “nexus” of people in power the column refers to remains intact. If anything this time around the stymieing of the loan recovery process by the banks seem to be further compounded due to inordinate delay of the ‘legal process’. In fact Vijaya Mallya seem to be very adept and seem to have been very successful in approaching the courts at crucial stages making a mockery of the working of the system chain. More than the NPAs themselves this is what is most worrying that from 2002-03 to 2016 we have hardly moved forward in establishing and operating a transparent working system that will be accountable to the people to avoid such financial scams. The way Vijaya Mallya has been able to manipulate the system, be it the Parliament, the govt., the Bank, the media, the legal delays to pull the wool over everyone’s eyes is simply horrifying to
Re: HORRYFYING ONE MAN CAN PULL WOOL OVER SO MANY EYES!
by damodaran mohan on Mar 14, 2016 06:08 PM
(contd.)..horrifying to say the least. But is he the only one to do that? Looks highly unlikely going by the size of the NPAs. So what is the guarantee that NPAs would decrease with putting in place certain new administrative measures. ? Will that be enough ? Is a transparent and accountable system going to be a pipedream for ever?
Why blame Mallya?. He is in the line of Harshad Mehta, Raja,Lalit Modi. Who is the real culprit. Not the person who swindle the money, it is the person who allows it to get swindled, For the sake of few thousands or some favour the officials who are the custodian of the public money bend the rules. Can a public get a small loan from any bank. Go to any indian banks and they ask so many documents and the banks are controlled by RBI. Are they sleeping all these years.
Problem in india is the thief is within the house and it is fence eating the crops. Younger generation should wake up and not to fall to show business. There are many genuine industrial houses in india with good reputation, why can't the banker approach them and ensure business and safety of their loan.
Mallaya already paid 10000 crores as interest to the banks which they are not telling
Even if Mallya took money Banks took more than him around 500000 crores as service charges from 150 crore Indian customers so even now Banks are in a profit.
Re: Banks are telling lies they do not sanction loans as it is
by ajay ghosh on Mar 13, 2016 11:00 AM
These are actions of the over zealous Mr rajan who is guding them to do all this we can see the way he acting like a recovery agent in short a goon nothing else.
Re: Re: Banks are telling lies they do not sanction loans as it i
by ramamani sadasivan on Mar 13, 2016 12:58 PM
AS A BANKER - IF HE ACTS AS A RECOVERY AGENT-WHAT IS WRONG..?. I am perfectly okay with that.
Mallaya already paid 10000 crores as interest to the banks which they are not telling
Even if Mallya took money Banks took more than him around 500000 crores as service charges from 150 crore Indian customers so even now Banks are in a profit.
Re: Mallya paid 100000 crores in interest to the banks
by ramamani sadasivan on Mar 13, 2016 01:01 PM
Mallya has paid 'interest '..but when will he pay the " principal "..??.. Banks are bound to charge Service Charges when he gets a service from them.!!. So..WHAT IS THE DEAL.??..
How many documents they want you to bring to sanction a home loan..... The middle class people like myself run from pillar to pillar to collect the documents required to get a home loan, which is only 85% of the cost.... Here we see a person who has pledged 1200 crores and taken 9000 crores... Woah banking at its very best....
Re: Shucks
by WILSON CHANDRAN on Mar 13, 2016 07:38 AM
How do you believe that the bankers would have granted this much of amount as you said. Neither the media nor the bankers have said about the quantum of loan granted to KFA - must have been between 2500 to 3000 crores. Since the unit has become sick over 5/6 years interest would have mounted.
Direct securities must be planes (worth no body has any reference)and addl securities must be shares. Also might have kept some land/buildings/factory etc. as additional securities.
Re: Re: Shucks
by ASHOK UPADHYAYA on Mar 13, 2016 01:23 PM
Correct interest, penal interest charged by banks will be more than double. Further every body politicians, bank's executives' might have taken undue advantage. He has paid salaries, taxes etc. Now crude prices are very much low, KF must have started earning profits.
How many documents they want you to bring to sanction a home loan..... The middle class people like myself run from pillar to pillar to collect the documents required to get a home loan, which is only 85% of the cost.... Here we see a person who has pledged 1200 crores and taken 9000 crores... Woah banking at its very best....
Promoter treats the company as owner of the company. No one, employee cannot speak against them if they use the company assist for their person benefit legally or illegally no one goes against them. If anyone goes against them they sack them from company. Our regulatory body Sebi, RBI etc knows only the information which promoter wants to give them. Our Indian regulatory doesn’t know the ground reality in Public Sector Company which runs by Bank money & public share. Vijay Mallya done everything wrong still our regulatory body was sleeping now he is out of their reach with hidden assist or known asset which government cannot auction shame for our regulatory body failed to punish Vijay Mallya. Now our BJP government will increase interest rate to recover NPA from innocent people of India we people of India will pay the price by living miserable life already in worst condition. Promoter of company, politician, bank have nexus now they succeeded to make slave every people in India working for them to give them all luxury, all unlimited property to make their life happy.
