The money stolen by scamsters has to be made up. The sacrificial lambs are always the taxpayers and the shareholders. The government should instead recover it from the Directors and senior managers who facilitated the loan. I would go so far as to say that all increments of Public Sector bank staff should also be stopped so that they remain vigilant in future.
as usual anti modi rediff article.modi loan amount can recoverd and almsot recoverd now unlike mallaya.ther lanco loan ( 40000cr by previous govt),and so many will be recoverd.
Why sir only Nirav Modi? We are paying for several crimes, both financial and otherwise, committed over the last so many decades! We hope at least this government would reset everything and start afresh.
RBI has no / adequate machinery to select Statutory Auditors(now vested with individual banks who can manage with auditors to manipulate NPA identification, like in the case of Concurrent Audits where the selectors were picking up fees for allocation, now this will extend to statutory audits also) and that mechanism failed miserably as is evident now, as banks manage / manoeuvre with SAs. Again Back to square One. You have offered one lakh crore more funds to advance more and create more NPAs, as you never evolved or urged banks to concentrate on recovery which could have been recycled.On top of it, never incentivised good pay-masters. Hence good borrowers have to suffer like many of Govt. schemes for poverty alleviation..
RBI has no / adequate machinery to select Statutory Auditors(now vested with individual banks who can manage with auditors to manipulate NPA identification, like in the case of Concurrent Audits where the selectors were picking up fees for allocation, now this will extend to statutory audits also) and that mechanism failed miserably as is evident now, as banks manage / manoeuvre with SAs. Again Back to square One. You have offered one lakh crore more funds to advance more and create more NPAs, as you never evolved or urged banks to concentrate on recovery which could have been recycled.On top of it, never incentivised good pay-masters. Hence good borrowers have to suffer like many of Govt. schemes for poverty alleviation..
RBI has no / adequate machinery to select Statutory Auditors(now vested with individual banks who can manage with auditors to manipulate NPA identification, like in the case of Concurrent Audits where the selectors were picking up fees for allocation, now this will extend to statutory audits also) and that mechanism failed miserably as is evident now, as banks manage / manoeuvre with SAs. Again Back to square One. You have offered one lakh crore more funds to advance more and create more NPAs, as you never evolved or urged banks to concentrate on recovery which could have been recycled.On top of it, never incentivised good pay-masters. Hence good borrowers have to suffer like many of Govt. schemes for poverty alleviation..
