From Jimmy Nagarwala’s Rs 60 lakh from SBI to Nirav Modi’s Rs 11,000 crore-plus from PNB, India has a 47-year record of scams in govt banks. Why do all govts still love them?
On her 100th birth anniversary, letters from Indira Gandhi reveal how she handled the fallout of her biggest economic decision as Prime Minister: bank nationalisation.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
India is already severely communal under Nehru-Gandhi long rule since independence. Divide and rule policy was inherited by Nehru from British and destroyed unity of India. The dynasty congress leaders openly and proudly advocating that the party cannot win without 90% of Muslims vote. Throughout their long rule since independence, the dynasty congress have been appeasing Muslims under umbrella of secularism. It is totally against any development.
A lot of increasingly turgid water has flown down the weary Yamuna since 1969. So many years later, one cannot second guess Mrs Gandhi on the reasons for bank nationalisation. Now that its record is before us, the constructive course of action would be to summon the courage and wisdom to start privatisation / shutting down of PSBs that are virtually beyond salvage. IDBI Bank ought to have been strapped to an electric chair much before one third of its loans became NPAs; instead it has been strung like an albatross around LIC’s neck. The banks covered by PCA are unlikely to ever become vibrant, throbbing institutions, despite the enormous advantage of being part of a fast growing economy. Instead, the RBI is being persuaded to relax the rigour required to prevent them from sinking further. Not sure if the entire portfolio of MUDRA loans would satisfy prudent lending norms. The pace of bank frauds continues to quicken. Draw a curtain over the past, unveil bold reforms for the future.
Modi is always cursing Nehru -Gandhi family to hide his own failures.This PM is in hurry to undo every good thing done by Nehru lineage.Nehru build the nation from scratch and Indra made India a power to reckon in the world.Modi has capitalist blood that’s why he is cursing Indira Gandhi on nationalisation of banks.Someday he could question her decision to stop privy purses to royal kingdoms as most of them are his bhagats.
Hiding under congress for the PM is the art perfected by him. But we don’t know how long people can be taken for granted
It is time he should give room for Manmohanji to manage our country
Both Congis,Bank men and borrowing public are cheats and responsible for the state of affairs now.Though natinalisation was done to rebutt her other colleagues in haste,nationalisation helped a lot of people.
India is already severely communal under Nehru-Gandhi long rule since independence. Divide and rule policy was inherited by Nehru from British and destroyed unity of India. The dynasty congress leaders openly and proudly advocating that the party cannot win without 90% of Muslims vote. Throughout their long rule since independence, the dynasty congress have been appeasing Muslims under umbrella of secularism. It is totally against any development.
Whenever Modi faces a tough election like Gujarat or Karnataka he always portrays Congress in bad light,and it clearly shows the tough situation in MP
A lot of increasingly turgid water has flown down the weary Yamuna since 1969. So many years later, one cannot second guess Mrs Gandhi on the reasons for bank nationalisation. Now that its record is before us, the constructive course of action would be to summon the courage and wisdom to start privatisation / shutting down of PSBs that are virtually beyond salvage. IDBI Bank ought to have been strapped to an electric chair much before one third of its loans became NPAs; instead it has been strung like an albatross around LIC’s neck. The banks covered by PCA are unlikely to ever become vibrant, throbbing institutions, despite the enormous advantage of being part of a fast growing economy. Instead, the RBI is being persuaded to relax the rigour required to prevent them from sinking further. Not sure if the entire portfolio of MUDRA loans would satisfy prudent lending norms. The pace of bank frauds continues to quicken. Draw a curtain over the past, unveil bold reforms for the future.
Modi is always cursing Nehru -Gandhi family to hide his own failures.This PM is in hurry to undo every good thing done by Nehru lineage.Nehru build the nation from scratch and Indra made India a power to reckon in the world.Modi has capitalist blood that’s why he is cursing Indira Gandhi on nationalisation of banks.Someday he could question her decision to stop privy purses to royal kingdoms as most of them are his bhagats.
“He also said if he gets half the time the Congress spent in power, he would bring about a transformation in the country.”
My God! Modi ji wants to rule for 30 years?! Haven’t the 5 been sufficiently nightmarish for us?
He reminds me of two lines of an old Hindi song:
MUJHE TUM-SE KUCHH BHEE NA CHAHIYE,
MUJHE MEREY HAAL PE CHHOD DOH!
Hiding under congress for the PM is the art perfected by him. But we don’t know how long people can be taken for granted
It is time he should give room for Manmohanji to manage our country
Both Congis,Bank men and borrowing public are cheats and responsible for the state of affairs now.Though natinalisation was done to rebutt her other colleagues in haste,nationalisation helped a lot of people.