Loot by bad corrupt business through banks

Yesterday, banks wrote off 50,000 cr loans by the Videocon group & sold the company for 5000 cr.

Today banks wrote off ~ 5000 cr loans by Siva group & sold the company back to him for 500 cr taking 5 cr upfront.

If banks can afford this, why can't they also waive off my ₹20 lacs loan? more  

View all 26 comments Below 26 comments
Loan recovery may turn into a game. Take for example, home loans - they may become NPA due to factors that may not be well within the control of borrower(s). Lender, say a bank need to devise certain mechanism(s) to solve such issue(s). Lender, for example may take the property (i.e the home) and call for an auction and sell the property (i.e the home) - in certain cases borrower can also become one of the purchasers if it fits his interests. So issue of NPA gets solved. However lots of banks/lenders donot adopt such mechanisms immediately and allow their system to escalate the outstanding amount and the difficulties continue. more  
Total mismanagement of public sector banks by corrupt politicians, ministers and highly paid corrupt officials. By v vertue of this bad deed today all PSB are in deep loss. Poor man, whose tax paid money is totally misused, by corrupt officials by lending to non- recoverable loanees. Today penalizing ordinary citizens by levying various charges even for withdrawing their own money. more  
Unprecedented transparency required, not only in terms of rapidity with which disclosures should happen but also the grounds to be raised should disclosures not permitted, under circumstances such as existence of fiduciary relationships or so. At many times such fiduciary relationships work to others disadvantages and becomes increasingly difficult to find merits in them. more  
This is the most prevent modus operandi of corruption which still continues. None is willing to address it with details. Recently, a huge amount in crores was paid merely as the hire charges of a high end aircraft which was kept at waiting for bringing Mahul Ckoksi. Such probabilities of events also cost us hugely. No one asks for the cost incurred by the govt on likely recovery of loans which eventually do not take place. more  
Mittal ji you are a common man. start by having a politician in your pocket and then start bribing banks. No action is taken against the corrupt as they divide the loot amongst all concerned. It is your money that is being looted. more  
Post a Comment

Related Posts

    • Banned drugs sold in India

      Someone tells me that some files that went missing from DCGI were of CONTROVERSIAL DRUGS that were banned across the world and were approved by non-medical staff of CDSCO on PERSONAL PERCEPTION WIT...

      By Ruchika Mistry
    • Cryptocurrency - ret Govt employees lobbying

      63 Moons' crypto venture has been launched by Jignesh Shahs - cryptowire With the platform being launched today, they have announced their Board of Directors which includes ex RBI, ex CB...

      By Sudesh Rai
    • Corruption by Political Leaders

      Happy Diwali all friends. Many of the state ministers, mlas mayors other politicians are corrupt in our country. Most of them Make money by taking cuts on contracts but there are two other ways:

      By Aditi Mitra
    • Taxpayer money needs to be brought back

      PandoraLeaks show how Anil Ambani holds almost 10,000 crores in tax havens abroad. Yet, the Govt has written off 100s of crores through TAXPAYER's money! You and I paid for the losses Ambani made. ...

      By Ruchika L Maheshwari
    • New ways to loot public money

      Dhoots, the owners of bankrupt Videocon owe Rs. 64,000 crores to taxpayers (banks). Under the brilliant bankruptcy law enacted by Govt, the banks can recover only 4% of this amount. The b...

      By Ajay Agrawal
    • Anti- Corruption

      My understanding/opinion The amended 2018 Prevention of Act is in favour of the corruption. The CBI cannot even register a corruption case against a public servant without the approval of the ...

      By Lucian I D P
    • Bribery to Bureaucrats and Politicians

      One of the most common ways companies, Builders, Businessmen bribe Bureaucrats Politicians Doctors and any others on the receiving end is to buy an expensive vehicle and give it to them for use.

      By Garima Sharma
    • Where did Covid Hospital Bribery happen


      By Naina Mittal
    • advt in leading newspapers across india a few days ago

      two days back there was a quarter page advt.in many leading newspapers across india by a company called Landomus Usa.the company said that it would invest equity of usd 500billion,in phase 1, in in...

      By Suresh Dasarathy
    • Together Against Corruption

      Needless to say,the corruption is in our blood. In Covid pandemic:we could have done better,but the "C" factor influences most of the business and political communities. 1. Remdesiv...

Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)