We know it very well that prior to independence of our country, the banks were being managed by kings or rich people of the country, and there was strong exploitation to the poors,farmers and middle class families by the rich/royal people. The royal/rich people forgot about their forefathers/ancestors, those whose who have originated from the grass root level also. There was only artificial sympathy to satisfy the have not people to achieve their specifice aim for their vested interest.So far my kn knowldge is concerned, The State Bank of India was previously in the name and style of "Imprial Bank" and the TATA company might have some percentege of share one it. However, Consquent upon nationalisation of banks by late prime Minister Indira Gandhi, the people of India, some extent relieved,but continuance of private banks could not be stopped.
At present the banks provide different loans to general people as well as big industrialists. The higher amount of loans are given to industrialists/reach people by the influence of political leaders and administrators of the country, and a huge crores of rupees are still outstanding against the top,top industrialists. Some time some cheater people form companies, preapare memorandum/bye-laws/ articles of association, and able to get it registered under Registrar of Companies, and after fullfilling the criteria prescribed by Government of India, they enroll their companies in the Stock Exchange Board. The organisors of such Companies become able to collect money from public by publishing attractive sentences and words through advertisments by keeping some banks as middle man. The general people, on faith, purchase shares of the companies and on a latter stage suffers a lot.
When, the banks fail to recover the loan from companies,general people, the bank initiate legal proceedings against such defaulters through Advocates/Legal practitioners and the banks have also to pay a huge amount of Advocate fees inspite of avilabilitys of talented Law Officers. Hence, the administration of banking procedure in India needs further reformations in a short and precise manner. In case bank initiate legal proceedings against industrialists of rich people, the loanee do not bother about it, because of diversification of loan amount to different personal ways, and on a latter stage finding no other alternative ways, the loan amount outstanding is written off. A huge amount have been written off by different banks, if history of the banks are re-opened. But, the poor general people move to courts/recovery tribunal and in a latter stage, he/she has to loose every thing of his/her assets due to critical procedures of laws and recovery.
Now is the time,the banking procedures of different bankers need modifications in a reformatic manner, which should be better for the industrialists as well as general people. The most important thing is that the bank should provide 100% intrest free loan to all type of students for 100 % education of the country without laiding down any criteria, except recovery after employment. Is not it possible? In my opinion, it is 100% possible, if all the faith writers as well as organisors take initiative for making reformations in the banking procedures.
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