Banking as an institution became the property of the politicians after Indira,Gandhi nationalised them and brought it under the control of state. People like Mallya have taken advantage of this system..Although they function independently the final say has to come from the government agencies..
Even private banks like Axis Bank are suffering from high NPA's. All banks take a hit on account of NPA's because all industries who take loans do not succeed and economic downturns also affect even healthy one's. n USA banks keep going bust. But yes if there isany hanky panky it should be investigated and guilty punished. Bank nationalization was a political tool to ward off opposition used by Indira Gandhi, what is the point of weeping now. De-nationalize the banks. For God's sake do something instead of only shouting about past.
vijay wrote:Even private banks like Axis Bank are suffering from high NPA's. All banks take a hit on account of NPA's because all industries who take loans do not succeed and economic downturns also affect even healthy one's. n USA banks keep going bust. But yes if there isany hanky panky it should be investigated and guilty punished. Bank nationalization was a political tool to ward off opposition used by Indira Gandhi, what is the point of weeping now. De-nationalize the banks. For God's sake do something instead of only shouting about past.
Why not, The banks were indeed fiefdoms of big business before 1969. Then Indira Gandhi nationalized the Banks to make advantageous to the politicians. That is the real cause for the present crisis. When the communal party Congress was responsible, not only for the Bank crisis also for a plethora of crisesis that ruined the Country for two decades the people will shout and curse the Congress. Owing to this, It has become burden to Modi Government to clear the garbage created by the erstwhile Govt. Of course, the nation is very confident that with time Modi will set right the things
Who is responsible for similar losses in private banks? Why do you always remain silent on substance and reply in a volley of adjectives. What is the use of lamenting on happenings in history. Leaders of that time took decisions suiting those times. Sitting in judgement all the time is not going to lead anywhere. If nationalization was wrong go ahead and denationalse them. Everyone knows who is communal why you have to remind yourself again and again. Please tell in what way the country was ruined. Parroting same record in every post does not mean it is true. Give examples and facts. Be a bhakta but do not be a blind bhakta.
No matter what anyone says, it is a fact that Nationalised Banks were used for the benefits of politicians and those who were close to politicians manipulated the system to their advantage ..It is not easy to change a system that has become well established for decades and makes you think how much of manipulation the previous governments and all those close to them ( who were not at all accountable those days because of there was gag on free press) have done and got away with ..
Indira Gandhi raised income tax rates to 97.75 percent, added a wealth tax of 3.5 percent, nationalized several Industries and made it clear to Businessmen . The Swatantra party collapsed and the businessmen crawled in. But the poverty rate did not fall.Poverty doubled. These activities of Indira exposed, Garibi hatao policy. Are such policies spearheaded by Indira are not fraudulent ? This is just an example of Congress party;s misdeeds that ruined the country.
Arun Jaitley the FM has given the go ahead to the banks to do whatever is needed to recover the loan amount..
The government - targeted by the opposition over industrialist Vijay Mallya "escaping" to the UK at a time banks are trying to recover 9,000 crores owed by his collapsed Kingfisher Airlines - had said last month that loan defaulters would not be spared.
"Banks have full authority and autonomy to deal with each wilful defaulter," Finance Minister Arun Jaitley said
These are usual statements and thee is nothing new in them for you to highlight them. The banks have considerably reduced their lending and this has affected the growth of industry. When economies take a downturn such defaults are common throughout tne world. Banks work with the stressed companies and over a period of time recover their outstanding amounts. But as usual in India ignorant wizards sit in judgement and create scenarios tat ultimately go against the very system they think they are protecting. Today CII has also advised banks to negotiate with Mallaya for recovery. Shouting, accusing etc is not going to get any recovery. He may be jailed at the most, without recovery.
The very fact that Mallya was allowed to get away for this long shows how lax the banks and the government was...Now blaming the present government will not help because they are trying to do the best they can under the circumstances...It will take time but I am sure he will be brought back and made to pay back..
rambabu wrote:vijay wrote:Even private banks like Axis Bank are suffering from high NPA's. All banks take a hit on account of NPA's because all industries who take loans do not succeed and economic downturns also affect even healthy one's. n USA banks keep going bust. But yes if there isany hanky panky it should be investigated and guilty punished. Bank nationalization was a political tool to ward off opposition used by Indira Gandhi, what is the point of weeping now. De-nationalize the banks. For God's sake do something instead of only shouting about past.
Why not, The banks were indeed fiefdoms of big business before 1969. Then Indira Gandhi nationalized the Banks to make advantageous to the politicians. That is the real cause for the present crisis. When the communal party Congress was responsible, not only for the Bank crisis also for a plethora of crisesis that ruined the Country for two decades the people will shout and curse the Congress. Owing to this, It has become burden to Modi Government to clear the garbage created by the erstwhile Govt. Of course, the nation is very confident that with time Modi will set right the things
De nationalization is not possible. It is true that only nationalize banks are working under influence of government, private banks are also working under influence. Situation is improved in last years. Banks are working with some free hand. Best example of it is RBI governor, he is working as he like.
anil wrote:rambabu wrote:vijay wrote:Even private banks like Axis Bank are suffering from high NPA's. All banks take a hit on account of NPA's because all industries who take loans do not succeed and economic downturns also affect even healthy one's. n USA banks keep going bust. But yes if there isany hanky panky it should be investigated and guilty punished. Bank nationalization was a political tool to ward off opposition used by Indira Gandhi, what is the point of weeping now. De-nationalize the banks. For God's sake do something instead of only shouting about past.
Why not, The banks were indeed fiefdoms of big business before 1969. Then Indira Gandhi nationalized the Banks to make advantageous to the politicians. That is the real cause for the present crisis. When the communal party Congress was responsible, not only for the Bank crisis also for a plethora of crisesis that ruined the Country for two decades the people will shout and curse the Congress. Owing to this, It has become burden to Modi Government to clear the garbage created by the erstwhile Govt. Of course, the nation is very confident that with time Modi will set right the things
De nationalization is not possible. It is true that only nationalize banks are working under influence of government, private banks are also working under influence. Situation is improved in last years. Banks are working with some free hand. Best example of it is RBI governor, he is working as he like.
True. Arun Jaitley, the Finance minister already given freehand to the Banks to act according to the Banks needs and necessities to recover Bad debts.
I guess cricket players think they are a race apart and are disconnected from reality and above everything ...Thats how it looks when yoo hear Virat Kohli ..
Virat Kohli's statement on Mallya is just a statement about Mallya who gave him a break in Cricket. That does not make Mallya an angel. Now, after Jaitley's order empowering the Banks, freedom to act according to the needs of the Bank to collect Bad debts, Mallya's return to India is imminent.. The courts ordered him to appear personally before May.
anil wrote:rambabu wrote:vijay wrote:Even private banks like Axis Bank are suffering from high NPA's. All banks take a hit on account of NPA's because all industries who take loans do not succeed and economic downturns also affect even healthy one's. n USA banks keep going bust. But yes if there isany hanky panky it should be investigated and guilty punished. Bank nationalization was a political tool to ward off opposition used by Indira Gandhi, what is the point of weeping now. De-nationalize the banks. For God's sake do something instead of only shouting about past.
Why not, The banks were indeed fiefdoms of big business before 1969. Then Indira Gandhi nationalized the Banks to make advantageous to the politicians. That is the real cause for the present crisis. When the communal party Congress was responsible, not only for the Bank crisis also for a plethora of crisesis that ruined the Country for two decades the people will shout and curse the Congress. Owing to this, It has become burden to Modi Government to clear the garbage created by the erstwhile Govt. Of course, the nation is very confident that with time Modi will set right the things
De nationalization is not possible. It is true that only nationalize banks are working under influence of government, private banks are also working under influence. Situation is improved in last years. Banks are working with some free hand. Best example of it is RBI governor, he is working as he like.
RBI governor has a certain amount of freedom to function independantly , of course with the consent and approval of Finance minister. However, even private banks come under RBI and the finance ministry, so they cannot make their own rules now.
Babu saroj wrote:yeah it is true that in India especially, political leader have a strong impression on the public and law system, but whereas about the bank system i don't think that the political leader have that sort of impression which they have on public and law system in the society.
One more crap written with the sole idea of getting points..
@kiran8