It is a well known fact that the culprits behind the Non-Performing Assets (NPA) ie. the loans to be returned, are the rich. Thousands of crores of loans are not paid by the corporate houses to the banks which are treated as NPA and never recovered. But in the case of small loans taken by the ordinary people, the banks are very harsh and take all aggressive measures to recover the money.

It is the same with the frauds on banks. During the last 10 years, 1,76,547 frauds have been reported in the banks according to K.C.Chakraborty, Dy. Governor of the Reserve Bank of India. Only 61 fraud cases involved a whopping amount of Rs. 13,000 crore. And who are the culprits? They are all the rich and affluent, according to the Dy. Governor. These are mainly wrong sanctions at the highest level of banks , meaning that the top officers in the banks are also involved.

We are happy that a top authority himself has opened the lid open on the frauds being committed by those in power with the rich.