Tag: Banking

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Banking sector in India thoughts turmoil

The Merchant Of Venice.-Modern.


Apologies to the bard on the outset,

Merchants did live in his times,

Portia   won laurels and encomiums,

Her name has stood the tests.

 

 

Banks have taken the  financiers’ garb,

They  are no more institutions,

They  exhibit no compassion,

 As they essentially  rob.

 

 

Shylock demanded a pound of flesh,

Banks extract ounces of blood,

Forcing the borrowers to shred,

 By pressurizing them under stress.

 

Interest keep the bank working,

While nominal index is the requirement,

High rates  reign the disbursement,

 That renders  the taker to a cruel dealing.

 

 

Securities are for guarantee,

Never for undue extractions,

The institutions resort to  distractions,

As they proceed to encash on  warranty.

 

 

Half the life goes out fighting,

The officials go in and out,

In the course of  default,

Plunging the borrower to a  circumventing.

 

 

Greed of Shylock was  a theme,

Eulogized by Shakespeare,

Avarice of the bank causes despair,

As sung by his fraternity with a less gleam.

 

 

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Rate Cuts


The economic slowdown has forced all the financial institutions to realise the status of  business.

It has reopened the Pandora’s Box. Out emerge the frauds, cheats, misappropriation, rigging, fudging and collapse.

The lobbyists, the politicians,and the chief executives have gained in the process , by looting the nation.

The banks have been advised to cut the interest rates to promote business.To make the nation prosperous ,we need steps severe. Rate cut is a welcome sign.Industries and business have to come out of the blue. Diminishing the interest rate will help the manufacturing projects . Banks should also extend facilities to them. At present banks have restricted their sanctions, as they fear the competitiveness of industries.

Easy finance with facile rates will give a jump to business. The sanctions should be planned according to the merit of the case.Scrutinising the projections,developing a rapport with the promoters,investigating the background of the people behind,are all necessary etiquettes that the bankers should take care off. Once they are satisfied with these formalities ,the loans should be advanced at the earliest, with comfortable progressions and schedule.

Regulations should be switched on, but the supervision should be subtle ,not stifling and suffocating.A regular flow of funds ,with nominal interest will enthuse the indusries. They will repay the loan with interest in appointed hour .

We look forward for similar outright remittance and free business not limited by deceit and control.

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Crucifixion of an entrepreneur.


The crucifixion of Jesus has been recorded in all the four gospels.

It is the most famous execution in all history.

The cross was a cruel,vicious ,bloody,instrument of torture.

State Bank Of India has executed  a lady entrepreneur in a very similar way.

It was a physical death for Jesus.

It is a mental death for the entrepreneur.

.Merciless, ruthless, wretched atonement of State Bank Of India, has to be publicised.

This industrialist,while commissioning her project ,was tantalised by the Bank officers.

When recession was staring hard, she was denied the much required working capital.

When she wanted to exit honourably, after paying her One Time Settlement,she is again tormented by the DRT’s attachment order.

State bank of India is having her money , nearly one crore for a year and nine months, her valuable documents  given as collateral security and the interest accruals of her amount.

State bank is triply benefitted.Yet desires for more.

The DRT was aroused by the State bank officials.

Her stoicism is holding her together.

Her indomitable courage,undaunted spirit,severe uprightness will be rewarded.

The top officials .if by chance ,read this write up.should intervene ,and render justice.

She is from down South, and her account comes under the purview of the Chennai Local head office.

She is punished for her sincerity,and tormented for  her straight forwardness.

It is always the noble who suffer,the cheats escape unscathed.

Let us wish for a speedy redressal from the largest bank ,State bank Of India.

Truth finally triumphs.

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Indian Bank


 

Indian bank was a non-performer a few years back.

Like Lehman bros, it would have filed Bankruptcy  

Today it is a performer.

Thanks to the efforts taken by Palaniappan Chidambaram, the Finance Minister.

He singled out Indian bank from the congregation  of failed assets, for reasons best known to him,

He spotted the weakness of the bank and resolved to set right the finances of the bank, by infusing funds, much similar to the most recent Bail out Plan.

The sinking Bank was revived.

Branding it as an NPA,  stifling it with undue strictures, debasing its confidence, would have triggered a massive collapse.

If similar treatment was meted out to most Non-performing assets, a turn around in the industrial sector would have happened.

This renaissance in the finance and industrial sector .would have brought a formidable attribution and excellent rejuvenation.

Indian Bank’s reconstruction is a formula, that has to be absorbed , assimilated and worked out to build a sound financial environment.

 


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Debt Recovery Tribunal Of India- Part II


DRT is the acronym of Debt recovery tribunal Of India.

It comes under the Finance Ministry.

DRT  is totally biased.

It acts  in favour of Banks and Financial Institutions.

In almost all cases , the companies arguments , however genuine, however poignant, however, serious, however matter of fact,however depressing, are  discarded by the Presiding officers.

The financial institutions emerge successful, by putting forth flimsy doctrines.

Supreme court and High courts pronounce a judgement after hearing both the parties, the petitioner and the defendant.

In DRT, they hear, but the final judgement is supportive of banks.

DRT,s should note,that

A company is  run by a Board of directors-Human beings

A bank is a body of officials.- again Human beings, not Gods

According to DRT , companies only err, banks are above mistakes.

This thought ,or preconceived notion is a very costly coordination and a baseless assumption.

The tribunal , should go into details of the case, and come out with meritorious proclamations.

Leniency over banks is condemnable.

Rashness over companies is detestable.

Tribunals should be fair and prompt in their pronouncement or decree.

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State Bank of India


State of bank of India, true to its name is the most statiliest of all banks.

The rapport, State bank commands in the banking sector is  absolutely expensive.

The customer base it enjoys is exactly envious.

The support it extends is highly nourishing.

The wings it has spread is fully accumulative.

The integrity it propounds is totally meritorious.

The only flaw, or to use a milder word, the only fall back that I detect as a  constituent of such a grand Bank ,is its merciless adherence to technicalities.

Go by the rules, Go by the regulations, Go by the formulas.nothing wrong, but try to add little life to your dry  proposals.

Adding  little more sugar to a delicacy will not  spoil the taste, but make it mouth watering.

But adding more salt to a dish ,will have a thorough rejection.

State Bank Of India is making rigid rules further rigid,  is converting easy settlements into herculean tasks,  is penalising the genuine for small drawbacks, is ignoring the needy, is intimidating the true customer.

This  largest  bank should condescend to the smallest customer.

Each customer is important, irrespective of  his financial merit.

Its balance sheet reveals , many irregularities among its dealings  with its highly placed account holders.

Medium and small industries ,who have availed financial assistance, have faced debacle, because of the bank’s hesitant disbursement of  loan facilities.

A bank of such stature and magnitude should act graciously and affably to the genial genres,to the law abiding folks. to the magnificently true applicants..

The authorities of State Bank of India , right from tne Chairman to the Field officer ,  should  adapt a smothering , assuaging sensivity to  the interaction with the customers, relate with the issues with rekindling inspiration ,and settle compromises with humanitarian implications.

Let they perform  with renewed vigour and stupendous exuberance from this Deepavalli.

 

C