Tuesday, April 12, 2016

Bad Loans, RBI opposes move to publicise list of defaulters....

The top 5 thugs who have defrauded the country of Rs 500,000 crores,
with RBI standing by and protecting them . How dare ?
Who is robbing my tax money !!

It is a pity that RBI in the supreme court is opposing moves to publicise the list of defaulters of bank loans.

Click here for the HT news link ..

There are several questions which RBI and the defaulters need to answer to the people of this country..

1. Whose money is being misused by the erring and deviant corporates of the country ?

2. Why was Rs 40,000 crores of bad debts simply written off in 2015 without informing the citizens of this country, the loyal tax payer ? Who gave the right to the RBI to write off such huge debts ?

3. Why should RBI and banks be scared to disclose the names of defaulters of bank loans ?

4, If privacy is the issue, amend the law once for all to book the culprits

5. If RBI fears that publicising the names may pull down the economy and economic growth, so be it. Our economy is vibrant enough and has taken bigger punches earlier. The economy should not be run on fears, instead on facts and the truth.. The economy cannot and should not survive only on the tax money provided by the citizens of the country, (which is being feasted on frauds and loan defaulters without informing the public.). 

6. If public money is being loaned to the defaulters, does not the public have the right to know how his/her money is being spent or wasted on such defaulters ?

The RBI cannot run away from this situation it has brought the country to under the shield of privacy. If it was private money, that clause makes perfect sense. How can disbursement of public money, earned through taxes on the citizens be termed as private transactions and kept away from the public ?

Bank chiefs, you may be corrupt, selfish, unscrupulous, untrustworthy, deceitful and scandalous, dont play with our money, the public's money !! At least don't throw away the tax payers money to these defaulters !!

Basically this retrograde move by the Reserve Bank of India shows how inefficient, corrupt,  unprogressive and regressive our central bank is, in spite of having a great person like Raghuram Rajan to lead it. 

The defaulter's list put up by Credit Suisse (shocking, perturbing, repugnant, scandalous, disgraceful, abominable and what not..). A pictorial is put up at the top .. These thugs have defrauded the banks of Rs 500,000 crores and how dare the RBI does not want to make this list public ?

Shame on the central bank and the public banking system in the country !! ... It just shows how corrupt, inefficient, amateurish, incapable, slipshod group of thugs you bankers are !!

Stop fooling the public of this great country.The banks of the country will pay for each rupee stolen from the tax payers money and for each rupee you have stood with the frauds to be stolen.


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