Tagged: arun jaitley

PSU banks are suffering NPAs because of influence peddling by Finance Ministry officials & politicians

Why Indian government-owned banks have so much NPAs

Finance ministry officials influence banks to lend to politicians and their cronies. This is why PSBs (government banks) are burdened with so much NPAs.

As predicted by me foreign shills are peddling reports and op-eds claiming that NPAs can be eliminated if banks were privatized. It is as if private banks have not gone broke (GTB) or have no bad debts (ICICI, HDFC, Axis…). Even if some government banks are privatized the remaining banks will continue to be exploited by politicians and their influential friends.

The only solution is for government banks to be run by  bankers not bureaucrats. And independent board should take care of corporate governance and monitoring.

https://thewire.in/227427/to-push-for-privatisation-as-a-solution-to-the-pnb-scam-is-to-ignore-history-problems-of-private-banking/

World Bank throws Modi & Jaitley a bone as a consolation “Eews of doing business” ranking

Reptilian News - Modi and Jaitley are foreign stooges

Indian politicians serve foreign and globalist interest than that of Indians. Modi and Jaitley are the biggest Indian stooges.

After demonetization, the complicated GST has dealt a blow to manufacturing. Yet, World Bank finds India has improved in ease of doing business? Maybe to save Modi in Gujarat elections!

After GST was passed, Jaitley & Co claimed that Indian sovereign rating will be raised. Contrary to their previous claims of how important GST was, rating agencies let out a big yawn and drew attention to the fiscal deficit & asset quality issues in the banking system.

There is never any final set of reforms. There will always be new “urgent reforms” and pending bills. The goal posts will always be changing. Like asking dogs to fetch a stick, different political administrations will be given different task and different reasons. Old politicians will be cast off when their usefulness has been exhausted. Permanent reforms until the democracy has become part of a global fascist dictatorship.

Like loyal dogs, our netas are eternal optimists & are once again looking for more “good dog” taps on the head.

People in Gujarat are seething in anger over job destruction and crop losses. If Modi tries to use World Bank’s bogus talking-point ranking in his election talk, it will only cost him more votes. Of course, Israeli con artists will have to be called in again to tamper the voting machines.