Why this late wisdom on the part of FM? Such an action should have been and should always be there to prevent formation of NPAs in banks. Even banks should be severely punished for generating and encouraging NPAs. The losses borne by the banks because of NPAs should be recovered from banks and the borrrowers and should never be passed on to depositors, tax payers and other stake holders of banks and the economy. Borrowers are using public Money to enrich themselves and this cannot be ignored / forgotten by the authorities as borrowers have no divine right to loot the banks.
(This comment is given against the report FM for tough action against wilful defaulters that appeared in Business Line dated 13/05/2014).
No comments:
Post a Comment