Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

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.........................

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www.hemenparekh.in / blogs

01  April   2016

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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 ) :


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