Bankers are upset with Modi's move to sanction loans of up to Rs 1 crore in less than an hour, call it an ‘election sop’ that could further increase their NPA level.
One has to be incredibly credulous to buy BJP spin masters’ argument that the government got rid of Vice President Jagdeep Dhankhar for harmonious relationship with the judiciary.
Modi government had also made numerous efforts to establish peace with Pakistan but has now adopted a different path, militarily, to establish peace, adds defence minister.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
As a person who has lived during Indira Gandhi’s regime, I am alarmed when I see the words “Loan Melas”. During the hey days of bank natinoalisation, in 1970s, PSU banks were lead by the madman Janardhana Pujari. He started loan melas for small borrowers, which amounted to anywhere between Rs.2000 to Rs.10,000. The loan could be got only through a Congress Worker. Only 40% of the money reached the borrower, with the assurance that he need not re-pay the sum. Thus started the story of NPAs in India in the defaults of large number of small borrowers. Now, what will happen to the lending in this Melas under the approving eyes of the FM? Story is only marginally different from that of 1970s – the borrowers are startups, small enterprises and MSMEs. Can banks really service the huge number of small borrowers? Is it cost effective for the banks? Or, are the banks throwing good money after the bad money? As a bank customer, I have a right to worry.
Any thing could be sir
As a person who has lived during Indira Gandhi’s regime, I am alarmed when I see the words “Loan Melas”. During the hey days of bank natinoalisation, in 1970s, PSU banks were lead by the madman Janardhana Pujari. He started loan melas for small borrowers, which amounted to anywhere between Rs.2000 to Rs.10,000. The loan could be got only through a Congress Worker. Only 40% of the money reached the borrower, with the assurance that he need not re-pay the sum. Thus started the story of NPAs in India in the defaults of large number of small borrowers. Now, what will happen to the lending in this Melas under the approving eyes of the FM? Story is only marginally different from that of 1970s – the borrowers are startups, small enterprises and MSMEs. Can banks really service the huge number of small borrowers? Is it cost effective for the banks? Or, are the banks throwing good money after the bad money? As a bank customer, I have a right to worry.