Thursday, 31 March 2016

Long Term or Short Term ?



As per media reports , Vijay Mallya has offered to repay Rs 4000 cr of debt by Sept . I presume he would offer to repay the balance at some unspecified date

Supreme Court has asked RBI and the lending banks to come back in a week with their response to Mallya's offer

In a normal course , such restructuring of a loan would be a routine affair, without anyone in public paying any attention

But these are not " normal " times  !

Which bank would dare to be criticized for " being soft / being in collusion " , after Prime Minister's public announcement two days back that :

" We will ensure that every rupee of loan is recovered . We will not let the rich rob the poor and get away "

Apparently , PM wants the lending banks to,

*  Go beyond the symptoms and uncover the true nature of the disease

*  Stop worrying about immediate write-offs and focus on future health

*  Ensure that their soft approach does not set a bad precedent to others

*  Surgically cut the diseased limb to ensure that Cancer does not spread

*  Send a loud and clear message to,

   #  72 companies which have failed to service debt ( Rs 5.53 lakh*crore )
        for two years

   #   40 companies which have failed to service debt ( Rs 2.94 lakh*crore )
        for three years


I can understand why RBI does not want Supreme Court to reveal the names of companies in default , who have loan outstanding of over Rs 500 Cr . RBI feels that this may have " adverse impact " for business

But what about " adverse impact " for the public , using whose tax money , 29 Public Sector Banks , quietly wrote-off , Rs 1.14 lakh*crore of bad debt between 2013 and 2015 ?

And the " adverse impact " on Central exchequer by re-capitalizing of these banks , using taxes paid by you and me ?

Shri Arun Jaitley says :

Amount of re-capitalization will be linked to the speed with which these banks manage to recover their NPAs

I hope , he has also told all banks , in unmistakable words :

" You will neither restructure these existing loans to the defaulters nor make any further advances to

 #    these defaulting companies,  or

 #   its associate companies , or

 #   directors of these companies ( personal loans )

 #   relatives of these directors ( personal loans )

 #   persons who are sureties for these defaulters

You will launch court cases against such defaulters for repossessing their properties and wherever there are cases of " cheque bounces " , you will obtain from the courts , " Non Bail-able Warrants " against such directors

You will share with the public at large , full details of the defaulters online

You ( bank directors ) will not be paid any salary till you recover these loans

If you fail to recover in 24 months , you will get a sack ! "


Dear Shri Jaitleyji :

If anything that I have said above sounds too harsh to you , just hang on the wall across your table , a photo of any of those thousands of farmers who are committing suicides , every year because rains failed and they could not repay their bank loans !

Right below that photo , dynamically display statistics of :

*  Number of farmers who committed suicide in past 24 hours .............

*  Cumulative no of Farmer suicides , so far , this year.........................

-------------------------------------------------------------------------------------

www.hemenparekh.in / blogs

01  April   2016

-----------------------------------------------------------------------------------

Make    Yourself    Heard

Dear Visitor :

It is time for YOU to speak up - and demand that YOU are heard

By emailing this suggestion - incorporating your OWN improvements - to the following Policy Makers

(  Just multiple copy all the following Email IDs into the Recipient column of your Outlook and Copy / paste this suggestion in the Message Box ) :


    narendramodi1234@gmail.com; 38ashokroad@gmail.com;ajaitley@del5.vsnl.net.in; jayant.sinha19@sansad.nic.in;piyush.goyal@gov.in;nitin.gadkari@nic.in; spprabhu1@rediffmail.com;bandaru@sansad.nic.in;smritizirani@nic.in;nsitharaman@nic.in; ravis@sansad.nic.in;sureshprabhu@irctc.co.in;prakash.j@sansad.nic.in;secy-ipp@nic.in; amitabh.kant@nic.in; shaktikanta.das@nic.in; rsecy@nic.in; adhia1981@gmail.com; ceo-niti@nic.in; atul-chaturvedi@nic.in; uma.bharati@sansad.nic.in; d.pradhan@sansad.nic.in; rprudy.office@gmail.com; rudypr@rediffmail.com; eam@mea.gov.in; mosvks@mea.gov.in; mvnaidu@sansad.nic.in; mnaqvi@sansad.nic.in; 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   






No comments:

Post a Comment