Since every govt. employee is assured his job upto retirement age with DA linked pension and Maharaja like pension even after death, any move which pertains to privatisation or any affecting his perqs. will lead to extortion. Hence everyone oppose all such move, equal level playing field is needed to compete with private sector and correction is needed in govt. job, or everyone must be reviewed after each 5 years as employment term whether the fellow is needed or retired. This will ensure efficiency and needy and unemployed will get a job.
"The Union urged for tough measures, including criminal action on willful defaulters to recover the huge bad loans given to the corporate houses, big business and top industrialists."Whom you are urging?URGE YOUR OWN BANKING SYSTEMand BANK OFFICERHOOD,Why had you not recovered loans from incoming cheques and released money against the incoming cheques. Why you had not done all these earlier?It is something like people practicing caste system and who had done nothing after seeing people like Narayanaguru, Mahatma Phule,,E.V.R. fight social injustice 60 yrs.back talking"INCLUSIVENESS" today and not telling what they want to includeR.PONNAMBALAM
Banks have lent or given loan of currency notes.The currency notes never fail to perform .That it’s called Non performing assets is plain befooling. Remove the “t” in the word assets and read that .The ex. V.P .had said Citing another report, published by financial agency Credit Suisse,( he said)” almost half of India's total wealth was in the hands of the richest one percent, while the top 10 percent controlled about 74 percent of it. The poorest 30 percent, meanwhile, had just 1.4 percent of the total wealth”.// And in such pathetically poor state of ordinary man some one corporate says he has got a loan of 465 million Rupees.What equitability can be there in this country if banks had given loans like this to”ONE”.” the government to ensure accountability of top Management/executives for bad loans and put in place stringent measures to recover bad loans.” The Govt. can not pay the Super prosperity Rich by taxing Poverty sticken people.Why can't banking wizardry make the 74% wealth holding 10& super rich to recapitalise the banks.Banks are as well a business or industry.We had closed public sector industries claiming that it is not the job of Govt, to run Business.It applies to banks too.Let Business recapitalize banks R.Ponnambalam
The problem in India is that the judicial system is based on money power. The rich corporates employ expensive lawyers who delay the proceedings indefinitely and even manage to get their clients scot-free.
