The Great Indian Rip-Off

Watch this video to know how nine Public Sector Banks wrote-off loans between 2013-15: Rs. 1.14 Lakh Crore.

The bad debts written off in financial year ending March 2015 make up 85 per cent of such loans since 2013.

“If a company has borrowed Rs20,000 crore and has assets of only Rs8,000 crore, then a bank should be allowed to write off only Rs12,000 crore that is not backed by assets. But, instead, the entire amount outstanding on the books and due is written off,”: Dr Chakrabarty(Ex Governor RBI)

Centre Government has announced a plan Indradhanush of 70,000 cr to bail out 13 public sector banks.
Out of the 89.35 million rural households engaged in farming in India, nearly 43.42 million or 48.6 percent are in debt.

Farmer Household In Debt

Andhra Pradesh 82%

Tamil Nadu 74.5%

Punjab with 65.4%

-National Sample Survey Organisation (NSSO)

The reason for the farmer debt is low MSP, poor infrastructures and high input costs.


All the farmers of India together owe 72,000 crore as crop loans

India's Corporate houses owe Rs 5 lakh crore approx.


Adani Group itself owes to the banks Rs 72,000 crore which equals entire debt of crores of farmers.


Farmers are being driven to suicide and any attempt to waive off their loans, is made hesitantly by the Government and gets shot down due to hue and cry by the banks. But most people don’t know that over years Government has been writing off banks bad loans amounting to thousands of crores.

We see Adani Travelling with PM and making Business deals that will benefit his company but have we ever seen a farmer travelling with our Prime Minister?

The biggest irony of “Make In India” is that PrimeMinister has out sourced farming of pulses to Africa.

Who do you want to save with your tax money, inefficient state Banks and big corpora

#FARMERS#ambani#agriculture#VijayMallya#economy#adani#Reliance#Banks#Kingfisher#IndianEconomics#BankingSector#CorporateDebt

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