A common person or entrepreneur finds it very difficult to get a loan from a bank with sufficient equitable mortgage and various government guaranteed financial schemes. Even most of times the banks have been returning them without giving loans for a regular engagement to earn for livelihood. It is seen that most of the banks achieving their targets of giving loan or advance through unofficial agents by taking bribe which results for non recovery of loan amounts in maximum number of cases. This results loss for banking sector and merger of banks which also lower the chances of employment in future.
But big houses continue to avail easy loans of the amount they wish even if there are number of banking frauds in recent years.
Between all this again there is a bank scam. This time it’s India’s biggest bank scam. This cheating worth Rs 22847 crore is done by ABG Ship Yard with 28 banks including State Bank of India India’s largest bank. In this regard CBI filed fir.
But what will be the result? Like every other bank scams indians will continue get assurance of money recovery? People started thinking that these scams are possible only due to undertable transactions between fraud entrepreneurs and corrupt bank officials as well as politicians in power.
