Vijay Mallya’s leaving the country and the default amount he and his defunct Airline King Fisher have to pay the Banks is well known. This incident has shown how the corporates are cheating the funds of the Banks. More and more news are now coming from the cup board.
It is estimated that the default amount, the NPA or the bad loan of the banks have crossed Rs. 1.8 lakh crore this year compared to about half of that last year.
The hard saved money of the common people are being loaned to the corporates and they do not return. Neither the government nor the banks are taking any strong action to get it back. The conspiracy angle between the banks, the corporates and the government can not be ruled out.
The Government and bank managements have to take prompt action to get the money back.