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Monday, March 21, 2016

Top 10 Defaulters of India

Comments on the NPA Issue



This Public sector bank NPA issue has a potential to unfold into a full fledged scam. This issue could potentially sink the hopes of the Citizens of India The amount of NPA is almost 6 lakh crore, perhaps more. This amount is staggering, more than any scams of the UPA government. There are about 678 districts in India. Think about each district receiving 1,000 crore to open schools, colleges, engineering and medical colleges. This is also a present day cash that has been stolen from people's pocket. Coal scam numbers were based on future 30 years worth of losses. But the 6 lac crore loss is real, in today's money. Who's money was it to start with? It was the money of average citizen. If you deposited 1,000 rupee in SBI, about 900 rupee was loaned out by SBI to these looters.

Where did the money go? Most of this money has been looted and sent out of the country by the nexus of the corrupt bankers, politicians and the crony industrialists. Each party has received their share and parked the money in safe heavens. Can they recover the money? NO. These loans were made to limited liability companies with limited personal collateral from the crony industrialists. Banks would not lend rupee 20,000 for an education loan to an average citizen but they lent thousands of crore without any personal collateral. Who is responsible?

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