In a newspaper, recently it was reported
that the Maharashtra Chief Minister asked the administration to initiate
criminal proceedings against erring staffers of financial institutions for
refusing financial aid to farmers in distress. It was also reported that immediately
the bank union has condemned the move since it is not binding on a financial
institution to disburse loan to a farmer. According to me, both are right in
their respective statements.
It is like this. The bank or its employees have
two set of standards for giving loans, one for the super-rich defaulters and another for
common man who generally repay it. Bank employees are very kind to sanction
loans to the super rich which later on become NPA/BAD LOAN. Only for the second
category COMMON MAN they are very strict to sanction the loan. For them, they
have rules and regulations and so many other things to be fulfilled - that too
they will tell you in piece meal so that finally you would be exhaust running after them
and finally you may or may not get the loan.
Our past and present Union Finance
Ministers are also very eager to help those banks who created maximum NPAs from
the tax collected even from the beggars on the street through the excise duty
etc. levied on simple items they use. In this background there is nothing wrong
in the request of the Maharashtra Chief Minister. Actually, the NPA creating
employees – mostly executives – should be prosecuted for sanctioning such soft
loans to the super rich without proper checks and dillydallying even the
recovery process.
No comments:
Post a Comment