Bank Bailout at cost of taxpayers money
Essentially with the PSU bank bailout about 50 or so big corporates have not repaid loans & common tax payer is now bailing out banks in the form of recapitalisation bonds of Rs.1.35 lakh crore. Can anyone explain it differently. more
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Feb 03
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Dec 23
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Dec 16
It is not tax payers money alone it is the funds what people have kept with Banks. Any honest government would like to ensure that bank account holders should not lose the money that has been vested with bank but unfortunately it is hard to get the honest governance in our country. It could not be found so far and my expectations are ZERO even in near future. In regard to Bailing Out the Banks, it is a cartel among the Big Business People including Defaulters, Bank Officials and the Government. Why Government is not keen to make the authorities of Bank responsible for Bad Debts? Why such happenings are permitted and the investment made by the Banks are not regularly monitored? Why management of such companies have not been dislodged by the Lenders/Banks? On the other side smaller fund requirements (upto Rs.100 crore) are not extended by the Banks on merits of the Project? Most of the Bad debt are in those projects where huge money is lent under the promotional schemes of Government/Political Parties. Our economy can not improve unless the fair approach is taken at the highest level. more
Oct 26
This has been going on for decades. That is why common citizen has lost all faith in governments and governance. There are 1000 other cases where you can see plundering of public money just to pamper government pests like Air India, Banks and like. Instead of banks being punished for their wrongdoings, they are being given silk gloves treatment one one hand by allowing them to impose new and new stupid charges and levies and on the other giving them bail out packages. REWARDS FOR BEING CORRUPT, INEFFICIENT AND NON PERFORMER. more
Oct 25
