Banking as an institution became the property of the politicians after Indira,Gandhi nationalised them and brought it under the control of state. People like Mallya have taken advantage of this system..Although they function independently the final say has to come from the government agencies..

 

http://blogs.timesofindia.indiatimes.com/Swaminomics/banks-will-remain-political-fiefdoms-till-privatized/?utm_source=facebook.com&utm_medium=referral&utm_campaign=TOI

 


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  • Re: Nationalised Banks in India run on political will..

    by » 4 years ago


    today the world is full of strong power personalities only, only richer rules and poorer obey their rules  


    bhuyali saroj


  • Re: Nationalised Banks in India run on political will..

    by » 4 years ago


    Even private banks like Axis Bank are suffering from high NPA's. All banks take a hit on account of NPA's because all industries who take loans do not succeed and economic downturns also affect even healthy one's. n USA banks keep going bust. But yes if there isany  hanky panky it should be investigated and guilty punished. Bank nationalization was a political tool to ward off opposition used by Indira Gandhi, what is the point of weeping now. De-nationalize the banks. For God's sake do something instead of only shouting about past.


  • Re: Nationalised Banks in India run on political will..

    by » 4 years ago


    vijay wrote:

    Even private banks like Axis Bank are suffering from high NPA's. All banks take a hit on account of NPA's because all industries who take loans do not succeed and economic downturns also affect even healthy one's. n USA banks keep going bust. But yes if there isany  hanky panky it should be investigated and guilty punished. Bank nationalization was a political tool to ward off opposition used by Indira Gandhi, what is the point of weeping now. De-nationalize the banks. For God's sake do something instead of only shouting about past.

     

    Why not, The banks were indeed fiefdoms of big business before 1969. Then Indira Gandhi nationalized the Banks to make advantageous to the politicians. That is the real cause for the present crisis. When the communal party Congress was responsible, not only for the Bank crisis also for a plethora of crisesis that ruined the Country for two decades the people will shout and curse the Congress. Owing to this, It has become burden to Modi Government to clear the garbage created by the erstwhile Govt. Of course, the nation is very confident that with time Modi will set right the things

     


  • Re: Nationalised Banks in India run on political will..

    by » 4 years ago


    Who is responsible for similar losses in private banks? Why do you always remain silent on substance and reply in a volley of adjectives. What is the use of lamenting on happenings in history. Leaders of that time took decisions suiting those times. Sitting in judgement all the time is not going to lead anywhere. If nationalization was wrong go ahead and denationalse them. Everyone knows who is communal why you have to remind yourself again and again. Please tell in what way the country was ruined. Parroting same record in every post does not mean it is true. Give examples and facts. Be a bhakta but do not be a blind bhakta.


  • Re: Nationalised Banks in India run on political will..

    by » 4 years ago


    No matter what anyone says, it is a fact that Nationalised Banks were used for the benefits of politicians and those who were close to politicians manipulated the system to their advantage ..It is not easy to change a system that has become well established for decades and makes you think how much of manipulation the previous governments and all those close to them ( who were not at all accountable those days because of there was gag on free press) have done and got away with ..


    Pay no mind to those who talk behind your back, it simply means that you are two steps ahead !!!


  • Re: Nationalised Banks in India run on political will..

    by » 4 years ago


    It took you so many decades to know this truth. After many decades you will come to know about the deeds of politicians in BJP also. Already one minister is facing a NBW for defaulting a bank payment and he is in Modi's cabinet. Please come back into 2016 from the 1980's.


  • Re: Nationalised Banks in India run on political will..

    by » 4 years ago


    The minister is being prosecuted not protected like it used to happen before...He belongs to Telugu Desam Party and in a coalition this is something that happens and the leader of that party is directly responsible for him and the central government has taken action..


    Pay no mind to those who talk behind your back, it simply means that you are two steps ahead !!!


  • Re: Nationalised Banks in India run on political will..

    by » 4 years ago


    What action has The Central Govt taken?


  • Re: Nationalised Banks in India run on political will..

    by » 4 years ago


    Indira Gandhi raised income tax rates to 97.75 percent, added a wealth tax of 3.5 percent, nationalized several Industries and made it clear to Businessmen . The Swatantra party collapsed and the businessmen crawled in. But the poverty rate did not fall.Poverty doubled. These activities of Indira exposed, Garibi hatao policy. Are such policies spearheaded by Indira are not fraudulent ? This is just an example of Congress party;s misdeeds  that ruined the country.

     


  • Re: Nationalised Banks in India run on political will..

    by » 4 years ago


    Arun Jaitley the FM has given the go ahead to the banks to do whatever is needed to recover the loan amount..

    The government - targeted by the opposition over industrialist Vijay Mallya "escaping" to the UK at a time banks are trying to recover 9,000 crores owed by his collapsed Kingfisher Airlines - had said last month that loan defaulters would not be spared.

    "Banks have full authority and autonomy to deal with each wilful defaulter," Finance Minister Arun Jaitley said


    Pay no mind to those who talk behind your back, it simply means that you are two steps ahead !!!


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