PUBLIC MONEY - SAFE IN BANKS
NPA exceeds Rs. 875000 lacs Crors i.e. 875000 X 10000000= ????????
VIJAY MALLAYA Rs. 9000+ Crors.
NIRAV MODI Rs. 11500+ Crors
Jewellery chain Kanishk Gold defrauds 14 banks to tune of Rs 824.15 crore (Rs. 1000+ crore)
While the principle loaned is about Rs 824 crore, adding the interest due would indicate a loss of more than Rs 1,000 crore to the banks.
SBI was the first to declare the account fraudulent to the RBI on November 11, 2017. By January, all other members had declared the account as fraudulent to the regulator.
SBI said the jeweller first defaulted in March 2017 in interest payments to eight member banks. By April 2017, Kanishk stopped payments to all 14 banks. The bankers were unable to contact the promoter when it initiated its stock audit on April 5, 2017.
On May 25 2017, when bankers visited Kanishk's corporate office, factory and showroom -- the facilities were shut with no activity and stock.
A few weeks ago, the Central Bureau of Investigation (CBI) arrested Rotomac owner Vikram Kothari and his son Rahul Kothari in the alleged loan default case. The CBI officials said that Vikram Kothari and his son, who were called for questioning, were arrested after they failed to cooperate with the investigation.
Bank of India, Bank of Baroda, Oriental Bank of Commerce, Allahabad Bank, Union Bank of India, and Bank of Maharashtra have jointly lent close to Rs 4,000 crore to the two Rotomac Group companies.
ICICI Bank CEO Chanda Kochhar’s husband and Videocon's Venugopal Dhoot
Dhoot provided crores of rupees to a firm promoted by Deepak Kochhar and two relatives six months after Videocon group got Rs 3,250 crore as loan from ICICI Bank in 2012. The amount was part of the Rs 40,000-crore loan that Videocon group secured from a consortium of 20 banks led by SBI.
WILL THESE BANKS LOAN RS. 1000 TO ORDINARY MAN HAVING ASSISTS LESS THAN THAT??????
WILL THESE BANKS WAIT FOR ACTION AGAINST ORDINARY MAN FOR DEFAULT FOR YEAR/S.??????
WHERE IS THE MONEY, HOW MUCH RECOVERED AND WHERE IS THE BALANCE THAT TO BE RECOVERED????? WHEN ?????
HOW THE BANK PERSONNEL'S ARE REWARDED WITH LUCRATIVE PROMOTIONS FOR MAKING SUCH A HUGH PROFITS TO THE BANK/S??????
PUBLIC EXCHEQUER/PUBLIC FUNDS ARE WELL SAFE IN THE HANDS OF BANKERS AS THERE IS NO ACCOUNTABILITY, NO RESPONSIBILITY, NO RECOVERY.
ANY suggestion ????? more
VIJAY MALLAYA Rs. 9000+ Crors.
NIRAV MODI Rs. 11500+ Crors
Jewellery chain Kanishk Gold defrauds 14 banks to tune of Rs 824.15 crore (Rs. 1000+ crore)
While the principle loaned is about Rs 824 crore, adding the interest due would indicate a loss of more than Rs 1,000 crore to the banks.
SBI was the first to declare the account fraudulent to the RBI on November 11, 2017. By January, all other members had declared the account as fraudulent to the regulator.
SBI said the jeweller first defaulted in March 2017 in interest payments to eight member banks. By April 2017, Kanishk stopped payments to all 14 banks. The bankers were unable to contact the promoter when it initiated its stock audit on April 5, 2017.
On May 25 2017, when bankers visited Kanishk's corporate office, factory and showroom -- the facilities were shut with no activity and stock.
A few weeks ago, the Central Bureau of Investigation (CBI) arrested Rotomac owner Vikram Kothari and his son Rahul Kothari in the alleged loan default case. The CBI officials said that Vikram Kothari and his son, who were called for questioning, were arrested after they failed to cooperate with the investigation.
Bank of India, Bank of Baroda, Oriental Bank of Commerce, Allahabad Bank, Union Bank of India, and Bank of Maharashtra have jointly lent close to Rs 4,000 crore to the two Rotomac Group companies.
ICICI Bank CEO Chanda Kochhar’s husband and Videocon's Venugopal Dhoot
Dhoot provided crores of rupees to a firm promoted by Deepak Kochhar and two relatives six months after Videocon group got Rs 3,250 crore as loan from ICICI Bank in 2012. The amount was part of the Rs 40,000-crore loan that Videocon group secured from a consortium of 20 banks led by SBI.
WILL THESE BANKS LOAN RS. 1000 TO ORDINARY MAN HAVING ASSISTS LESS THAN THAT??????
WILL THESE BANKS WAIT FOR ACTION AGAINST ORDINARY MAN FOR DEFAULT FOR YEAR/S.??????
WHERE IS THE MONEY, HOW MUCH RECOVERED AND WHERE IS THE BALANCE THAT TO BE RECOVERED????? WHEN ?????
HOW THE BANK PERSONNEL'S ARE REWARDED WITH LUCRATIVE PROMOTIONS FOR MAKING SUCH A HUGH PROFITS TO THE BANK/S??????
PUBLIC EXCHEQUER/PUBLIC FUNDS ARE WELL SAFE IN THE HANDS OF BANKERS AS THERE IS NO ACCOUNTABILITY, NO RESPONSIBILITY, NO RECOVERY.
ANY suggestion ????? more
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AND THIS : Take a look at Table 1. Table 1: Year Loans written off (in Rs Crore) 2014-2015 49,018.00 2015-2016 57,585.00 2016-2017 81,683.00 2017-2018* 84,272.00 Total 2,72,558.00 * Up to December 31, 2017 Source: RAJYA SABHA UNSTARRED QUESTION NO: 3600 TO BE ANSWERED ON THE 27th MARCH, 2018 Table 1 tells us that between April 1, 2014 and December 31, 2017, the public sector banks wrote off loans worth Rs 2,72,558 crore. Hence, the profits of the bank have been impacted to that extent and so have the dividends that these banks give to the government every year. more
Apr 04
