The State Bank of Travancore’s
move to transfer its education loan recovery to the Anil Ambani-owned Reliance
Asset Reconstruction Company is unjustifiable. Anil Ambani group of companies
have a dubious history of cheating the investors and hence in this deal the advantage
of top officials of SBT should be looked into. The agitation in this direction
by the general public, loanees and the bank staff before the headquarters of
the bank in Trivandrum is in the right direction. No thugs in suit and tie should
be permitted to frighten the parents of the students and the bank employees.
The SBT move will give wrong signals
to other banks in this regard and the State will turn into a land of public
sector blade mafia. Harassment and torture in the name of repayment of loans by
RARC should not be permitted. If SBT is the one that has given loans it is
their duty recover it lawfully. Permitting outside muggers to recover the loan
is obnoxious.
K A Solaman
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