Tags

,

According to the Finance Minister Arun Jaitely, the total loss to the PSU Banks is about Rs. 18,000 crores. The loss is mostly due to the NPA or bad loans of hundreds of crores of rupees given to the corporates, including almost all the important business concerns in the country. These loans are given without proper procedure, on the recommendations of the political bigwigs and also in collaboration with the top officers of the banks. The indications are that these loans are taken with the full confidence that the borrowers can escape without repaying the loan.It is very much necessary that a high level inquiry should be ordered and remedial measures taken to recover these loans. But since the top politicians, big corporates and top Bank Officers are involved, the chance for any sincere inquiry is doubtful.
The silver lining is that despite these NPAs, the PSU Banks are having an operational profit of Rs. 1.40 lakh crores.

Advertisements