Take The Money And Run

Balajee · Feb 17, 2018

HariLakhera said: ↑

Cheating is a skill perfected overtime by taking advantage of legal loopholes and help of the decision makers. It is as old as prostitution. Both cheating and prostitution have flourished and survived with or without rulers' consent. There laws to plug the loopholes in laws and the process goes on. Some of the loopholes are kept to favor some.
I remember when our company was going through bad times and was unable to pay interest on loans taken from the bank, the bank employees helped by advancing another loan for payment of the overdue interest. He might have been promoted for double whammy for the bank. Recovery of the overdue loan and increase in money advanced as loan. Both targets achieved.
This is basically a systematic failure and Modi will learn it hard way to understand that eradicating corruption is next to impossible.
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You hit the bull's eye. Cheating is as okd as prostitution and is as eternal as the world's oldest profession. Cheating without the government connivance would be a relatively small scale affair. For Nirav Modis and Mallyas there has to be connivance at high levels, particularly political levels to indulge in such large scale loot. As you say this is a systemic failure . I think Modi is not even making an attempt to eradicate corruption. What we need is a more transparent system.

Balajee · Feb 18, 2018

leelal said: ↑

Banks hesitate to lend to ladies fearing we will not repay the EMIs.. They will try to get as much collaterals and time to process such loans. Statistically its proven that MEN are looting the Banks through huge amount of Loans. Its time Banks should focus only on providing loans to women and encourage women in setting up enterprises, small business etc without seeking any collaterals. We usually do not immediately run away.. and stay back to pay the dues.
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Here they have lent (is it the right word? "Given away should strike the right note) thousands of crores without any guarantee. It is not a question of gender but the right connection.

Balajee · Feb 18, 2018

SCSusila said: ↑

Each day , with each scam , the figures are getting more and more digits to count : units, tens, hundreds, thousands .......beyond seven or eight digits, head goes reeeeeeeeeeling.

Its always possible only with Bank officials colluding to create these Robber Kings . When banks ask for our KYC , we should demand their KYS ( Know your staff )
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Not only bank honcos, but the entire political class colludes in creating these robber barons., They are in league cutting across political spectrum.

satchitananda · Feb 25, 2018

The other day the BH approached a certain bank for a small loan. 'x' The bank called him back and tried to convince him to accept a loan of '2x' which he said he did not want. They never got back. We heard stories about how banks which are running short are likely to be allowed to touch our FDs. If they are really so short of cash, why do they insist on giving bigger loans? I mean, we do not have any hideout in Switzerland either. Our name does not start with L, M or N.

Yesterday I got a call from the SBI asking me if I wanted a pre-approved credit card. When I said no, the lady called back today - a Sunday - to open some account or the other with them.

Strange are the ways of banks in India and one really does not know what is going on.

Balajee · Feb 25, 2018

satchitananda said: ↑

The other day the BH approached a certain bank for a small loan. 'x' The bank called him back and tried to convince him to accept a loan of '2x' which he said he did not want. They never got back. We heard stories about how banks which are running short are likely to be allowed to touch our FDs. If they are really so short of cash, why do they insist on giving bigger loans? I mean, we do not have any hideout in Switzerland either. Our name does not start with L, M or N.

Yesterday I got a call from the SBI asking me if I wanted a pre-approved credit card. When I said no, the lady called back today - a Sunday - to open some account or the other with them.

Strange are the ways of banks in India and one really does not know what is going on.
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They are bringing a Banking bill under which they can use not only your FDs but your SB account f unds to get out of financial doldrums. Looks like putting money in the bank is relly risky. Never take credit cartds from ANY bank. I have had enough trouble with lousy credit card servicing by ICICI and returned the card to them cut into pieces with an accompanying letter that in my view was sarcastic but which my wife thought was extremely rude.

Balajee · Feb 25, 2018

Balajee said: ↑

They are bringing a Banking bill under which they can use not only your FDs but your SB account f unds to get out of financial doldrums. Looks like putting money in the bank is relly risky. Never take credit cartds from ANY bank. I have had enough trouble with lousy credit card servicing by ICICI and returned the card to them cut into pieces with an accompanying letter that in my view was sarcastic but which my wife thought was extremely rude.
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And if you take a loan take a huge loan that you can siphon off to some overseas account, escape from the country and llive happily ever after on the ill gotten money

Thyagarajan · Mar 10, 2018

Balajee said: ↑

There are two kind of bank robberies, In the low end kind you go armed into a bank branch poin t a gun at the cashier and take whatever you want as the sole guard armed with a World War II vintage rifle watches helplessly. But has heists go this is small scale, no cottage industry.

The real high end bank robbery is when you siphon off tens of thousands of crores from banks under the guise of loans, shift the cah abroad and then vamoose to more salubrious lands from where extradition is a near impossibility.

The way things are going keeping your money in banks could be injurious to your financial health. Any Mallya or Nirav Modi could take it and run.

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And such high end robberies are impossible without the blessings of the powers-that-be. It is impossible to believe that it could have happened without active connivance of top bank honchos with nods from the rulers

Both BJP and Congress are pointing accusing fingers at each other for the large scale take-the money and run capers. True both Mallya and Nirav Modi initiated their scams during the Congress rule but it was the BJP led NDA that put the finishing touches to the two works of con art by allowing Vijay Mallya and Nirav Modi fmily to fly abroad scot free.

The inv olvement of the rulers was crystal clear in Mallya’s case when a look out notice issued for him by CBI was conveniently withdrawn enabling him to escape. Then the government indulged in cheap drama by pretending to bring Mallya back knowing fully well that extraditing him from Britain was next to impossible. They couldn’t extradite felons who had fled there earlier like Music director Nadmi wanted for murder , one navy officer called Sankaran wanted for espionage and the other Modi Lalit. So who is going to be fooled by Mallya drama?.

It is a scary scenariuo and the government to ensure that other poor penniless businessmen are not forced to flee has waived billions in unsecured loans given with OUR money. So keep thy money in thy purse as Shakespeare said And not in banks. Nirav Modi has sucked away billions from ONE branch of Punjab National Bank. Imagine how many branches each state-owned banks have, none of them are scam proof.

With governments being active or passive conniver of such high-end robberies, (which are impossible unless the reserve bank and the banking regulator turn a blind eye), there is bound to be loss of faith in banking system. Of late there has been talk of cashless economy. The way things are going on the economy is bound to become cashless with all cash being siphoned off by scamsters
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Banks assist only very rich to make them enriched .
One can mimic the voice of prim minister and the bank official reaches the desired destination with suit case stuffed with sixty lakhs.(this was possible in Indhra India - Agarwala. LIC offered huge loan running to thousand crores to Mundra. Taking advantage of insider information & geographical time difference , just a day before in the vee hours bank official opened LOC for huge import of raw material to preferred company! - the incidents are numerous and even now at various scales banks helps(sic) rich to get enriched and of course poor bank staff help themselves to get rich as facilitators.
Since sixty decades Bharat is abound with these stories and many skeletons are in the RBI vaults!!!
As long as expanded presses at Hoshingabad and Nashik are ready to work overtime, for certain community, it is smiles smiles all the way to the PSU banks.
Regards.
God Bless Us All Always & the Bharat- MATHA.

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Take The Money And Run

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