Monday, June 29, 2015

the aggregate debt of the 500 top borrowers is Rs 28,76,000 crore....while qualified professionals get zero to start their own establishment

My comment on Business standard reporting that " the aggregate debt of the 500 top borrowers was Rs 28,76,000 crore, about 73 per cent of total bank lending to the industry, services and export sectors. As many as 83 of these 500 largest borrowers have already been formally tagged as financially distressed. Within these 83, operating profitability barely covers the interest required to be serviced in most cases; there is also the absence of any strong parent.". ,,,,,,,,,,,,,,Alok Tholiya I hv been demanding that loan should be only against security , mortgage or surety. But instead Indian bank and RBI and Finance ministry gives 1000 crores to one who can never return loan and even for paying interest they borrow further. Additionally they are given loan for posh houses, posh cars and posh offices. Such loan must not be given specially who is not showing enough profits. Even company must not be allowed to give huge perks and comforts to directors and executives unless company shows profits. How can morally company in red feels to provide expensive comforts to loss makers. Worst is not only they hv gulped borrowed money but has also hit the shareholders badly. If any Company is making loss for last three years should be asked to wind up, or merge or sell to other profit making company. But we see that funds are continued to be given for decades to loss making company. There is a big fault in giving such huge loan for decades without showing profits and without securities. And on the other hand genuine fund seekers like engineers, doctors, ;lawyers etc are not given few crores loan for their own offices, establishments. A doctor was refused loan by all banks or are offered small fraction of needed funds and that too for only 5 to 7 years. To repay housing loan they give fifteen years but for place for a clinic they want repayment in 5 years. My reading is that few r allowed huge loan without securities as RBI, FM, bank chairman are in unofficial partnership with bund nibblers, cheaters and frauds who get billions by giving false balance sheet.