Thread by @Memeghnad

In case you're wondering how politicians use cooperative banks as their personal piggy banks, here's how it works.

#PMCbank thread 👇

Step 1: People known to politicians are appointed as directors. Can be a son/daughter/friend/peon/driver.

They're all just proxies so it doesn't matter whether they are educated or not. They don't even need to pay attention to the functioning of the bank.

Step 2: Entice hardworking people to deposit their money in this bank.

Pretty self-explanatory.

Step 3: Give out loans from the bank to friends and family.

Since the directors are 'apne ghar ke log', this is quite easy to do. Doesn't matter if the entity they are giving loans to has the capacity to pay back or not. Of course.

Step 4: Feed fat lunches to auditors (Chartered Accountants) during audits to make them look the other way.

Yeah. These audits are a joke. Starving underpaid interns do it mostly. Nobody ever blames the CAs after shit goes down, so who cares anyway.

Step 5: Give a nice cut from the loans to party and leader as donations.

Again, pretty self-explanatory. Now we have these fun things called electoral bonds to ensure these things are anonymous too! So... yaay!

Step 6: Never pay back loans. Instead, take more loans to start paying back installments of previous loans.

Yeah. They take more loans to pay back parts of previous loans so that they always stay above the NPA radar. Managers know this, but... meh.

Step 7: PROFIT!!!

Of course.

In this amazing wonderland, shit usually goes down when the party in power changes & elections are on the horizon.

Then, suddenly, authorities take a look at the books, find shittiness happening there for years and then take action. Once elections are over, rinse and repeat.

You can already see this happening.

Election times are fun times.
*ba dumm tss*
moneycontrol.com/news/business/…

And, of course, everybody is involved.

Look closely and you'll find connections to every party that matters, one way or another.
mumbaimirror.indiatimes.com/mumbai/other/d…

Now, look at this lady. Look at her closely. Feel her pain.

People like her are the ones who suffer because of this giant scam which has been happening for decades.

https://twitter.com/i/status/1176860652649926656

For the past few days people who have read my book are pointing out similarities with #PMCbank and how I predicted the future.

Trust me, I didn't. This has happened before.

But hey, buy my book #Parliamental! Thnx! amazon.in/dp/935357059X/…