Discrimination faced by Mumbaikars...

If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.

Tuesday, November 05, 2013

Bad Loans of public sector banks like BoB, BoI & Allahabad Bank shrink on better recoveries
KOLKATA, 5 Novermber, 2013: Three of the seven banks that have declared quarterly results have shown better recoveries from sticky loans, following a government nod to lenders to go after wilful defaulters.

Bank of BarodaBSE -1.64 %, Allahabad BankBSE 1.67 % and Bank of India saw better recoveries from sticky loans after the government allowed them to publish names of wilful defaulters and auction their collateralised assets. Bank of Baroda's slippages fell to Rs 1,600 crore in the three months to September 30, compared with Rs 1,800 crore in the year-ago quarter. Chairman and managing director SS Mundra said he expects that the worst may be over so far as asset quality is concerned, and that performance would stabilise over the next few years. Bank of India's asset quality improved with gross non-performing assets ( NPAs) ratio dipping to 2.93% compared with 3.42% in the September quarter of the previous year. Net NPA improved to 1.85% from 2.04% a year ago. The bank also showed lower slippages and better recoveries sequentially.

The fight against wilful defaulters got a shot in the arm with Reserve Bank governor Raghuram Rajan pushing banks to get bad loans off their books by selling them to asset reconstruction companies.

Allahabad Bank's chairperson Shubhalakshmi Panse attributed the bank's 18% rise in profit mainly to improved recovery performance. The bank recovered Rs 2,573 crore during the second quarter, seven times more than what it had managed a year ago. The bank was also able to contain fresh slippages to Rs 1,200 crore, compared with Rs 1,720 crore last year. It sold written-off assets worth Rs 732 crore to asset reconstruction companies at 50% discount to push up recovery and non-interest income.

Other lenders, including Bank of MaharashtraBSE 0.24 % and Union Ban of India, continued to see spikes in bad loans, but Union Bank chief Debabrata Sarkar said he expects the NPA situation to improve over the next few quarters.

Syndicate Bank and Indian Overseas Bank, however, continued feeling the pains as the economy is still showing some stress.

Courtesy: The Economic Times