Central Government just announced a package of Rs 70,000 Crores for re-capitalization of Public Sector Banks ( PSB ) , spread over 4 years
PSBs are carrying on their books , NPA ( Non Performing Assets ) of some Rs 2.8 Lakh Crores ( 70 % of Rs 4 lakh crores for all banks )
NPA is a euphemism for bank-loans given to rich businessmen / industrialists , who are refusing to re-pay !
Apart from defaulting on loan repayments , some 17 of them are even defaulting to pay up Rs 2.14 lakh crores worth of Income Tax !
From where is Central Government going to get those Rs 70,000 crores ?
From my tax money
I cannot complain !
Because , if the Government did not dole out this largess , then those banks may declare bankruptcy
And I will lose all my savings and fixed deposits
Better to pay some tax than lose my life's savings !
But what about those tax-payers who have no bank savings worth protecting ?
Why must they be punished for " Crimes of Commissions and Omissions " committed by :
> Lax ( or conniving ? ) Bank Managers who gave out those loans without
sufficient collateral or dragged their feet on recovery ?
> Loan Defaulters who siphoned off the loan money in personal accounts or
undeclared assets , with impunity ?
> Law Makers who failed to pass iron-clad acts with stringent penalties for
willful defaulters ?
In the meantime , some 17,000 farmers continue to commit suicide EVERY YEAR , for being unable to repay bank loans of a few thousands of rupees !
And the worst part is :
History will repeat itself , all over , 10 years from now !
Vested interests will ensure " statusquo ante " !
---------------------------------------------------------------------------------
hemen parekh
02 Aug 2015
B2BmessageBlaster
-----------------------------------------------------------------------------------
PSBs are carrying on their books , NPA ( Non Performing Assets ) of some Rs 2.8 Lakh Crores ( 70 % of Rs 4 lakh crores for all banks )
NPA is a euphemism for bank-loans given to rich businessmen / industrialists , who are refusing to re-pay !
Apart from defaulting on loan repayments , some 17 of them are even defaulting to pay up Rs 2.14 lakh crores worth of Income Tax !
From where is Central Government going to get those Rs 70,000 crores ?
From my tax money
I cannot complain !
Because , if the Government did not dole out this largess , then those banks may declare bankruptcy
And I will lose all my savings and fixed deposits
Better to pay some tax than lose my life's savings !
But what about those tax-payers who have no bank savings worth protecting ?
Why must they be punished for " Crimes of Commissions and Omissions " committed by :
> Lax ( or conniving ? ) Bank Managers who gave out those loans without
sufficient collateral or dragged their feet on recovery ?
> Loan Defaulters who siphoned off the loan money in personal accounts or
undeclared assets , with impunity ?
> Law Makers who failed to pass iron-clad acts with stringent penalties for
willful defaulters ?
In the meantime , some 17,000 farmers continue to commit suicide EVERY YEAR , for being unable to repay bank loans of a few thousands of rupees !
And the worst part is :
History will repeat itself , all over , 10 years from now !
Vested interests will ensure " statusquo ante " !
---------------------------------------------------------------------------------
hemen parekh
02 Aug 2015
B2BmessageBlaster
-----------------------------------------------------------------------------------
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By emailing this suggestion - incorporating your OWN
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rao.inderjit@sansad.nic.in; mljoffice@gov.in; sadananda.gowda@sansad.nic.in;
ministerminority@gov.in; najmah@sansad.nic.in; minister-ca@nic.in;
ramvilas.paswan@sansad.nic.in; gandhim@sansad.nic.in;
akumar-alpha@sansad.nic.in; jpnadda@sansad.nic.in; hm.moca@nic.in;
geete@sansad.nic.in; simratbadal@yahoo.com; ns.tomar@nic.in;
rmsingh@sansad.nic.in; tc.gehlot@sansad.nic.in;
dr.harshvardhan@sansad.nic.in
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