We escaped direct adverse impact of "Great Recession" of 2008-09, since our fin sector, particularly #Banking was less integrated with global markets & practically unexposed to mortgage-backed securities.
But today we won't be unaffected If Recession happen Again.
#protectbankers
Millions of Banking customers money Have been poured into Market based Investment in form of Mutual Fund, Gold Bonds, Insurance products via cross selling. Which gives return based on share market growth, what if Market collapse again?? Who will ensure Wealth of those customers?
Our economy was well integrated with Liquidation of Funds. #Banks have to keep a Fix portion of its funds at RBI, & that ensures interest of its customers, when any mishaps happen.
Gradual Decrease in Lending rates boost economy as Interest burden is low & margin will be More..
At the same time interest on Deposits also decreased to 6-7%. Which was 9-10% 3-4 years Ago.
Public have no choice but to move their funds from Banks to other higher return investment products.
In this scenario & at this speed, from where #Banks will Get fund to lend in markets?
Finally the final step of #privatization will be left for govt. This will be a win win situation for Corporates who will either control #Banks or NBFCs PaymentBanks etc etc, and like always the loss will bear by #Taxpayers and Bank employees.
#protectbankers
This has been already started with #IDBI as its all set to sold to LIC. IRDAI have also given NOD for the same. 1 by 1 all Govt banks will be sold. Who will ensure Implementation of Social security schemes, Financial Inclusion etc etc?
Our Economy depends on #Banks
#saveIDBIbank
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