PUNISH LOAN DEFAULTERS , CORRUPT BANKERS & PROTECT HONEST BANK CUSTOMERS AND TAX PAYERS.
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" New Delhi: The government has not waived any loans of big NPA defaulters, Finance Minister Arun Jaitley said on Tuesday dismissing rumour that loans of capitalists are being written off by banks.
In a blog, Jaitley said that over the last few days, a rumour is being propagated regarding waiver of loans of capitalists by banks.
Observing that the time has come for the nation to be apprised of facts in this regard, he said one should ask at whose behest the loans, which have turned NPAs were disbursed between 2008 and 2014 by public sector banks.
"The public needs to ask the rumour mongers at whose behest or under whose pressure were such loans disbursed. They should also be asked that when these debtors delayed in repayment of their loans and interest thereon to Public Sector Banks, what decision was taken by the then Government," the finance minister said
As rightly pointed out by your goodselves, the bankers,top level government servants ,corrupt businessmen, and others responsible for the loot of bank money should be prosecuted and punished,in order to recover atleast part of the loot and to send a message to the honest tax payers and savers that their money in banks are safe.If no action is taken to punish the guilty and if the government encouraging the Banks to write off the bad loans and pump tax payers money to bailout the defaulters then people will loose faith on banking system,which even other wise is badly affected.
Further the Government should increase the deposit insurance limit to Rs.10 lakhs per person per bank and for senior citizens Rs. 50 lakhs per person irrespective of the number of bank accounts held by them and increase the CRR to 10% to keep fake money created by banks using Fractional reserve lending as there is excess money supply inspite of a small reduction in currency in circulation post demonitisation.
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