The Government of India cannot afford to indulge into issuing a FREE FOR ALL Licence to the Banking Industry, for allowing
¥ organised loot of public funds,
¥ legalised plunder of the hard earned money of the common man, and
¥ systematic embezzlement of the only savings carried by the common masses for their ripe age , that too without taking permission from the respective subscribers of those deposits with The Banks.
But why does the #Government of #India need to engineer this criminal game of "MONEY LAUNDERING" of the public funds.
Friends, it is with the noble idea, only to systematically cover up the huge losses incurred by the #Banking #Industry on account of Monumental Mismanagement of the Institution of Banking during the past four decades.
If implemented with an iron hand,
~ It will be the cruel homicide of the manifestation of the values of the sweat and blood of the innocent subscriber of deposits with the 🏦 #Banks...,
~ it will be undermining the commercial value of the immortal sacrifices made by the common masses to build their savings....,
~ it will amount to decimating the blind faith the common masses have imposed time and again in our Banking system; and
~ above all it will be the complete annihilation of the love and belongingness they nurture in the core of their heart towards the Nation as a whole...!!
~ These very factors are also applicable towards all those who have left their hearth and homes to earn their bread and butter in foreign lands (NRIs); but have not lost the faith and love they conjure still in their heart for their motherland; hence they continue to transfer the values of their respective sacrifices implored to earn hard earned money (far away from their motherland), and transfer the same back to the Banks belonging to their Motherland.
The Government of India has no ethical, legal or commercial right to swallow the hard earned money of the honest 98% of the population to just take care of the balance 0.5% of the population that are corrupt, dishonest and inefficient.
Yes, "BAIL IN", is a good thought Process, but needs effective transparency in its logical implementation. It needs to be implemented logically on to the real culprits who are basically responsible for such Monumental Mismanagement of public funds, without any kind of accountability and responsibility.
Effective and justified management of this thought process will not only help in building faith and trust in our Banking Industry who are basically the "CUSTODIANS" of the public funds. Any custodian doesn't have the legal or ethical right to penalize the innocent subscriber of deposits to the Institution of Banking Industry for the failures of the Custodian to recover #NPAs from their genuine beneficiaries...!???!!!
Now let us identify as to who are the individuals responsible for the creation of the huge volumes of NPAs in the Banking Industry in our country, that lead to this kind of grave financial crime of Monumental Mismanagement of the #Public #Funds. They are the beneficiaries of the Loans granted by the Management of the Banks to the individuals and entities belonging to Institution of Business and Industry, but in turn these beneficiaries failed to return their Loans in time along with interest as per norms....!
The real beneficiaries of these loans are :
(1) The Politicians who send their letters of recommendation to the responsible authorities in the Banking Industry with instructions to issue huge Loans to the big cheats cultured by the business class. Legally speaking those letters of recommendation are the Affidavits of the Guarantee they issue to the Banks because certainly they would have been buttered with some benefits in exchange only as to issue such instructions.
(2) The Chain of the Top Management of the Banks who sign to the Papers of those bad Loans because it's they who are supposed to be responsible for issuing the Loans to these deceptive customers.
(3) The real beneficiaries of those Bank loans who are basically the individuals belonging to the Institution of Business and Industry and are definitely responsible to deliver back to the Banks with the BAIL IN amounts towards the NPAs thus created.
Next logical question arises as to how to recover compensation for the creation of the NPAs of the Banks :
As the Government of India and the Reserve Bank of India stand as Guarantors to the effective functionality of the Banks, hence the Government of India as per the Constitution of India already deserves the right to recover the money against NPAs from the beneficiaries of the Loans by following these steps of "#BAIL #IN" and reset the Banks back into healthy positions of efficient governance and transparency in management of public funds. To recover these funds from the beneficiaries, the Government of India needs to take the following steps:
(1) Freeze all the Assets, tangible as well as intangible, of all those politicians, if any who have indiscriminately issued letters of intent to the authorities in the Banking Industry to issue huge loans without bothering about the credibility of the beneficiaries of the Loans that have later turned into NPAs...
(2) Initially suspend all the authorities in the Banking Industry who have signed the requisite lease agreement papers of the Loans granted to the effective beneficiaries of the Loans. Stop their salaries. Freeze all their tangible and intangible assets.
(3) Finally, Just freeze all the tangible and intangible assets of the beneficiaries of the bad Loans who belong to the business class, till the "TOTAL AMOUNT DUE" is recovered from them as per the final proceedures laid out below.
The next step will be to determine as to in what proportion the Banks should restructure the process of recovery of the Loans to effectively and judicially recover the "Total Amount", due to the Banks along with Interest from the respective beneficiaries of the creators of NPAs :
(1) At the outset, Debit 21% of the "Total Amount", due to the Banks in each individual case, first to the Politicians if any who have been responsible for issuing instructions to the Banks to issue the Required Loans to the specified Individuals. In order to recover these funds priority should be given to first resell their tangible assets and then touch their intangible assets.
(2) Next Debit 15 % of the "Total Amount" due to the Banks in each individual case, to the learned Managers of the Banks, who have been responsible for passing the Loan Amount to the specified defaulters. In order to recover these funds priority should be given to first resell their tangible assets and then touch their intangible assets. If required, Freeze the Pension benefits of any of the retired employees involved in the whole process.
(3) Debit the balance 64 % of the "Total Amount" due to the Banks in each individual case to the actual Defaulters of the Banks, who have failed in their attempt to return the amount due along with the Interest. In order to recover these funds priority should be given to resell their Tangible assets first and then touch their intangible assets.
(4) In case there's no Politician involved in the process, then the Bank Management will be debited with 21% of the amount and the balance 79% to be recovered from the real beneficiaries/ Defaulters.
(5) In case of the Death of the Politicians and Bank Managers responsible in the process, the "TOTAL AMOUNT DUE ", should be recovered from the respective Defaulters.
(6) In case of the total failures of the real Beneficiaries/Defaulters having gone really bankrupt, the onus of responsibility will fall first on the two Gaurantors who have signed the loan documents, then the Politicians and lastly the Bank Managers responsible, In proportion of 65 : 20 : 15 % of the "TOTAL AMOUNT DUE", from the respective Defaulters.
If this process of "BAIL IN" is adopted then not only will the total NPAs be recovered within a maximum period of two to three years but also make the management of the Banking Industry more transparent and trustworthy.
It will wipe out corruption from the Banking Industry.
It will build the confidence of the subscribers of deposits.
It will enhance the confidence of the NRIs in the efficiency of the Indian Banking Industry.
It will make the working of the Banks more professional and reliable.
The value of the Indian Rupee will increase in the International Market.
Hence the Minister of Finance needs to relook into the methodology of the process of "BAIL IN" Of the Banks as per the justified methodology enumerated above.
If you feel that you are one of the potential culprits of the Government's policy of "BAIL IN" of the Inefficient management of the Banking Industry then please sign this petition in the interest of nation from Corrupt and deceptive business class...
https://www.change.org/p/arun-jaitley-do-not-use-innocent-depositors-money-to-bail-in-mismanaged-banks-nobailin
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