Total Pageviews

Wednesday, November 26, 2014

Attention! All Fekus! NPA of banks is the real source of black money

In his most hard hitting speech against recalcitrant defaulters, Reserve Bank of India governor Raghuram Rajan has said that the amount written off by banks as bad debts in the last five years would have been enough to fund the education of 15 lakh of the poorest children in the top private universities of the country, all expenses paid. Pointing out that sanctity of debt contract is being continuously eroded in India, the governor said only Rs 30,590 crore of bad debt was recovered by banks through the debt recovery tribunals in FY14 from the Rs 2,36,600 crore claimed even as cases keep piling up. 

NPA of banks is the real source of black money. All Fekus instead of curbing the NPA, scream over black money stashed in Switzerland.

No comments:

Post a Comment