And it is neither NiMo , nor PNB
( Punjab National
Bank )
It is NPB ( Non Performing Bankers ) masquerading as NPA
( Non Performing Assets
)
That made the Government announce yesterday, the launch
of NAFRA ( National Financial Regulatory Authority )
Will NAFRA
succeed where 16 existing agencies have miserably failed to catch the culprits
for decades ?
When it comes to sacking non – performing employees ,
50 million MSME have no problem
If an employee does not perform , his salary gets cut
or he may even lose his job !
That ensures that not only must he report for work at 8
am every day ( come hell or hailstorm ) but he must
deliver what is expected of him on that day
That made me suggest the
following , 2 YEARS
ago ( and sent as email to Cabinet Ministers ) :
It is no Rocket Science to extend the
application of this SIMPLE TECHNOLOGY to bank loan defaulters !
By automatic freezing of personal bank accounts of
ALL those who signed the loan document ( takers & givers
) , the moment any repayment instalment
becomes overdue by ONE DAY ?
And automatic / instant revoking of PASSPORT , without having to approach Supreme Court ?
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