There is a report in various newspapers that the Finance Ministry is likely to finalise additional capital requirement, over and above budget provision of about Rs 8,000 crore, for public sector banks in the next three months. What the report says that Finance Minister Arun Jaitley on Friday had promised more capital infusion into public sector banks, saying there is "merit" in their demand for more funds over and above what was provided in the Budget.
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This issue of additional capital requirement was also supported by the Reserve Bank of India in view of mounting NPA/BAD LOANS.
In this background, I have few questions to both the Finance Minister/Ministry and to the Reserve bank of India:
To the Finance Minister/Ministry:
1. Is this a bonus or award to the scam tainted NPA/BAD LOAN banks for giving soft loans to affluent people whereas non influential people who do not know the art of greasing the palms are not able to get even petty educational loans to their children?
2. Have you initiated any ‘EFFECTIVE’ action against the defaulters and the NPA sanctioning Top Executives of banks?
3. If it is a common man, what you would have done if a few instalments are not paid in time?
4. Why don’t you freeze the dividend of these scam tainted banks till the NPA is wiped out, instead of burdening the taxpayers?
To the RESERVE BANK OF INDIA:
1. What is your real function? Simply to report the NPA figures or to take ‘EFFECTIVE’ steps to prevent it?
2. What is the work done by your Inspection teams after going to the different banks for inspection purpose? Just to confirm the NPA figures reported or to check the adequacy of the security and the creditworthiness.
3. Is it possible that on a fine morning loans are becoming NPA or is it with the active support from the lender bank officials and the inspecting RBI officials?
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