Why should citizens bailout PSU banks
Recently Punjab National Bank filed for insolvency of Carnational Auto India. Loan of 170 crores to set up multi brand outlets and almost 200 crores taken from venture capital funds. all lost.
Question is why should the common citizen bail out these banks who make bad decisions. just like we won't be bailing out venture funds. The risk management should be responsibility of the PSU bank ceo and its board and they should be rewarded for good work and fired for non performance.
Till the PSU bank KRA and accountability system is fixed, they shouldn't have any right to touch savings accounts of citizens to give loans in the future. There are several experts in this circle. Please share your thoughts. What was shared in the corruption circle yesterday on the bail out bail in plan by a member is quite scary. more
Question is why should the common citizen bail out these banks who make bad decisions. just like we won't be bailing out venture funds. The risk management should be responsibility of the PSU bank ceo and its board and they should be rewarded for good work and fired for non performance.
Till the PSU bank KRA and accountability system is fixed, they shouldn't have any right to touch savings accounts of citizens to give loans in the future. There are several experts in this circle. Please share your thoughts. What was shared in the corruption circle yesterday on the bail out bail in plan by a member is quite scary. more
Viewed by 695
View all 32 comments Below 32 comments
I met A bank Manager in the flight, while discussing NPA, his input was like this: 1. There was rampant disposal took place during 2005 to 2013 specially by Govt Banks, with 10% Cut of the Loan amount to Manager, in turn there is some portion had gone to then Central govt bosses. 2. Even Loan was given on Agricultural property with the Fake plan of Building Layouts. 3. The defaulter has gone 2nd, 3rd Bank to borrow loan on same property. 4. More then 60% of the lOAN OF SBI was Declared NPA. By this time all these Bank Managers would have retired and enjoying all the post retirement benefits and also then ruled political party bosses. more
Dec 11
It is true that the government is not questioning or taking to the task who recklessly gave advances to lakhs of crores which became NPAs. Instead it is utilising public money to infuse capital in banks or to revive them unabashedly. The Ministers and authorities are forgetting that they are trustees to public money and accountable. Now it is very much glaring, that the public savings in banks is not the own money of banks or government to use it as if they wish. The government and banks are custodians or trustees of the same and should not appropriate simply because they have power in hand and can legislate. Do Not know why the current administration especially the finance department is following the principle of "Rob peter to pay Paul" philosophy. Every decision of this govt. Demonetization, GST, Bank Interest rate reduction etc., are affecting common and middle class indians only. These decisions are not even going near to the rich and affluent. Had any minister, for that minister stood in queue to exchange his old notes. Should we believe that they do not have. If really so, total action of surprise is bogus. GST benefits only traders, tax evaders, but not common public. Reduction in interest rates affecting retired personnel or small savings holders, as rich will loot the banks by way of loans etc. It is high time for the Govt. especially Finance and Prime Ministers to hear the problems of public and solve. If you could not solve at least do not disturb and make lives miserable. more
Dec 10
Why the government is framing rules to take prompt action against the erring companies, instead of proposing rules to absorb the ideal funds of the depositors ??? more
Dec 08
Naina Mittal you Questions is eye opening everyone is afraid to Ask and R V K BABU given good information which help us to understand where we stand now more
Dec 08
