Presidential Elections: Support Dr.Meira Kumar

Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" in the hands of "UP ka Beta", will invariably bring Shame to the Biharis and Jharkhandis. So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar. This might also probaly correct some of the historical mistakes of not making her father, the Prime Minister of India.

Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar and make her the 2nd Female President of India.

All the best to Dr.Meira Kumar...

Wednesday, November 20, 2013

Banks wrote off Rs 1 trillion over last 13 years: Reserve Bank deputy governor
Reserve Bank deputy governor KC Chakrabarty has said banks have written off a whopping Rs 1 trillion in the past 13 years and criticised the lenders because as much as 95% of these write-offs were for large borrowers.

"During the past 13 years what we see is that banking system as a whole has written-off more than Rs 1 lakh crore in advances," Chakrabarty, the senior-most of the deputy governors at RBI, said while addressing bankers at an industry conference over the weekend. He said that over 95% of such write-offs have been observed in the case of big accounts and expressed anguish that public discourse focuses only on the government's agri debt waiver scheme of 2008.

"We only talk about the debt waiver of the agricultural borrowers, we don't say big players and of this (Rs 1 lakh crore) 95% are all big borrowers and it has been written off," he said.

The government had announced a waiver of over Rs 60,000 crore in advances to farm sector as a one time measure in the budget of 2008 following stress in the rural sector.

Notably, allegations of un-deserving borrowers getting benefit have been levelled in case of the scheme and was looked into by RBI.

In his over hour-long interaction with the bankers, Chakrabarty used hard data to support his observation and blamed complacency on credit appraisal and credit management for the present situation of high non-performing assets and high incidence of loan recasts.

Chakrabarty, who joined RBI after a long career as a commercial banker, was particularly critical of the system of a "technical write-off" by the lenders, saying he does not understand the system.

In his speech, he also asked the bankers to be economical with restructuring, if not abolish the system in full.

Courtesy: DNA India