Bank Re-Capitalization ?
Here is a layman's
understanding :
> Bank executives give Rs 4 Lakh Crores worth loans to Industrialists / Businessmen ( who , sometimes happen to be close relatives / friends )
> Bankers " forget " to examine past records of loan-repayments by these individuals
> Banks do not share among themselves info about " black-listed " borrowers
> Banks " forget " to inquire if a loanee is a " Benami " company
> Banks do not incorporate stringent clauses in loan agreements (on purpose )
> Banks adopt " Forget & Forgive " approach to defaulters
> For loan recovery , bankers wait for other bankers to take the lead
> Before taking action , bankers check-out with people in power
> When sinking under the burden of NPA , bankers run to Government of India to bail them out through " Bank Re-Capitalization "
> Government oblige by giving money to stressed banks, so that they can survive
> Government rationalize its bail out by saying, " depositors must be protected " . Sounds so reassuring !
> Government then goes out and raises taxes ( direct + indirect ) to balance its books ( Current Account Deficit ? )
In a nutshell :
> Eventually , honest tax-payers foot the bill, one way or the other
> 7,000 + loan-defaulting swindlers spend vacation in Switzerland with family ( and their politician friends ) - till they are ready to borrow more !
> Bankers vie with each other to " Re-Schedule Payments " and advance fresh loans to pay off old loans ( Rs 4 lakh Crores of NPA ).
If EU / IMF can do this for
Greece , why cannot we ?
> Government will take pride in " Bold Banking Reforms "( to please IMF ? )
> As a Nation , we are very compassionate ! We cannot let any institution die !
We are obsessed with keeping it alive at any cost . We must ,
forever , keep it alive with artificial
ventilation / blood transfusion !
It is time to re-think :
When a person or an Institution just cannot be kept alive , it must be allowed to die , in a dignified way !
Would it not be far better to protect the small bank-depositors by returning their deposits , rather than infuse Rs 4 lakh Crores into these banks , by way of re-capitalization ?
Am I missing out on something that economists know better ?
- hemen parekh
hcp@RecruitGuru.com
www.B2BmessageBlaster.com
June 24 , 2015
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