Corporates Pe Karam, Janata Pe Sitam! | Cracknomics Ep 7
Though bad loans of the banks have come down in the past years, a major reason for that is the huge write-offs. On the same lines, NCLT, the tribunal constituted to recover money and resolve bad loan cases, is instead making the banks take huge haircuts, all in the favour of the corporates.
Today corporate loans are available at 5-7% while the rates on education and housing loans fall in the range of 10-12% and rising. When as a policy, money is flowing in the direction of the corporates, it is obvious that the credit availability for the common people will take a hit.
It is our money, the depositor’s money that is given out as loans, so when the banks suffer from bad loans or when the banks take huge haircuts, it is the public money that disappears into thin air.
Hashtags: #Haircuts #writeoffs #NPAs #corporateloans
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