Banks, specially the public sector, are to be blamed for the sorry state of bad loan situation that they are in. In the present case, the CBI shamelessly blames a junior staff for the lapse of permitting Vijay Mallya to fly out of the country. Blaming subordinates is not an excuse to pass the buck. When an Army loses a war no one ever blames the soldier, it always the Chief of staff, no excuses.
The Rs 9000 odd crore loan given, in an unscrupulous manner, to Mallya could have been given to thousands of worthy entrepreneurs and this would have helped India’s growth, instead of routing the money out of the country. There are hundreds of such bad loan cases, if dug into. I fail to understand as to what the CA’s, top honchos of the bank and Auditor Generals do? Is feasibility report asked for by these hoodwinkers? Today, when a common man approaches the bank for a genuine loan he is harassed to a state that he gives up. Recovery agents are arranged for small timers and not for the overbearing.
A senior SBI person recently went to the extent of stating that the BJP in Goa did not permit the attachment of Kingfisher Villa in Candolim. This is a blatant lie, as the North Goa District collector has confirmed that no such order was received by her. It’s interesting to note as to who the guest invitees were to the 60th Birthday bash? All the top bank officials and political big wigs apart from film stars.
Frequent press reports are given banks highlighting about the number of accounts, branches, ATMs, etc being opened. Economic Times Best Corporate Awards are flashed. Isn’t all this hypocrisy when their losses and unrecoverable loans are never mentioned? Most PSUs are running in loss. Take the example of Air India. Despite being bailed out huge sums by different governments its accumulated loss as on date is over Rs 30,000 crore. No PSU Bank is doing well? Our money is misused and they carry on with no remorse whatsoever. That’s the very reason that we don’t even get a decent interest rate.
