Bad Corporate Loans and Their Write-offs Are Draining the Economy https://www.youtube.com/watch?v=x6MAR_F_F24 The Wire In March 2015, the total NPAs were at Rs. 3.23 lakh crore. This increased to Rs. 10.36 lakh crore in March 2018, the highest in the history of the country. In March 2023, NPAs came down to Rs. 5.71 lakh crore. Did the defaulter companies suddenly decide to pay their dues on time? No, it is only because the banks decided to let them go, and wrote off half of their debts. Contrast this with the life of the common man, whose entire family is haunted to recover the loan amount. Is the system working for the people who deposit their hard earned money in the banks? Or the corporates who get hefty loans at throwaway interest rates?
@Srichand47
This globe runs on the axis of "Powerful Vs Powerless" ...Not on the axis of "Dharm Vs Adharm".... Unfortunately.... we citizens lost our track, by keep believing exactly the opposite, for entire life. Become Powerful enough to stop the injustice..just believing in "Justice" won't change the system.
@bindaasmard664 It's been going for decades now. For instance tata group took over Air India (AI) recently which used to be a state (gov) owned airline only after gov write off it's debt. Ironically it was JRD Tata who founded AI and then under Nehru's socialist agenda was forced to hand it over to the gov. Ever since AI got under gov control it's decline began so much so that it had more than 40K crores of unpaid loan on it when vijay mallay fled the country who's kingfisher airline had become defaulter in some 9K crore loan. No gov babu (AI used to be headed by some senior IAS officer) was ever held accountable for debt that piled up in AI books for so many decades. By 2023 the estimated default debt on AI had rose to over 60K crores which tata group made gov to write off it's books before taking over the AI.