NEWS & ADVICE : SAVINGS ACCOUNTS
Union Finance ministry trial to manage bank loans
By Vaibhav Aggarwal
Oct 10, 2013
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The amalgamation of an awaiting general election and a delicate worldwide economy predict trouble in India. A week following the provisional budget in 2009, Pranab Mukherjee, the then union finance minister revealed the third financial stimulus package in several months, which was expected to renew the investment. Now, the present union finance minister, Sri. P Chidambaram is making an attempt on a version of an unwanted stimulus by connecting extra capital support for PSU banks to inexpensive loans for people desiring to buy two-wheelers and consumer durables.

Awful loans in the banking system, principally PSU banks, have functioned as a pull on the country. It is tricky to get rid of the idea that the ministry of finance has played a part in the degree of awful loans in PSU banks by making use of its majority shareholding and say in the appointment practice of bank heads to direct money to selected areas. For example, a deputy governor of the Reserve Bank of India recently distinguished the appraisal of infrastructure loans of the PSU banks as imprecise somewhat than information-derived. Barring variations in possession, there are no grounds why only a few bankers in India are unsuccessful in showing a resemblance of professionalism in a few cases.


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