Govt wants Rs 3.6 lakh crore from RBI reserves. For what? To recapitalize banks, o'course.
This is the equivalent of a person dipping into his savings and paying to save a compulsive gambler friend who has major gambling debts.
indianexpress.com/article/india/…
This is the equivalent of a person dipping into his savings and paying to save a compulsive gambler friend who has major gambling debts.
indianexpress.com/article/india/…
Gormint wants to take RBI reserves & recapitalize inefficient failing banks so that they can get out of "prompt corrective action" which is preventing them from lending more.
Basically, remove the only thing FORCING banks to recover unpaid loans so they can get back to biz.
Basically, remove the only thing FORCING banks to recover unpaid loans so they can get back to biz.
And all of this is happening while some top defaulters are mysteriously finding money from godknowswhere to pay off all their debts.
I'd like to believe it's because of pressure from the banks, but who knows these things.
moneylife.in/article/essar-…
I'd like to believe it's because of pressure from the banks, but who knows these things.
moneylife.in/article/essar-…
Fiscal Prudence... lul.
