If not a retirement speech what CBI director Anil Sinha said on SEBI and Bank top officials is a welcome one. There is absolutely lack of accountability in banks and SEBI as they are least bothered to avoid the consequences of fraudulent accounts that resulted in huge NPA in banks.
Accumulating bad loans in commercial banks is the result of willful attempt by bank higher ups, corporate heads and politicians. How could liquor baron Vijay Mallya lead a lavish life when he remains as a defaulter of several crores to many banks?
Accumulating bad loans in commercial banks is the result of willful attempt by bank higher ups, corporate heads and politicians. How could liquor baron Vijay Mallya lead a lavish life when he remains as a defaulter of several crores to many banks?
Average investors and retirees who put their money in bank stocks are now sitting fingers crossed. Are these banks going to melt in thin air, is a reasonable question.
If anyone says recovery of bad loans is not visible in near future then it is certain that he is also involved in the robbery. Recovery from the private assets of bank officials and defaulters of loans should soon be done to save banks. Despite CBI' s directives the banks not filing complaints against defaulters is a pointer in this regard. The alarming increase of bad loans and subsequent NPA should be immediately checked.
-K A Solaman
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