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NPA Disease - Privatisation is Not the Cure: Thomas Franco

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Thomas Franco, general secretary of AIBOC (All India Bank Officers Confederation), speaking to Newsclick said that the government can not place the blame of the NPAs on the public sector banks. The banks followed the guidelines from the RBI and government in disbursing loans to the infrastructure and other sectors which have turned NPAs. He said that RBI should place limits on the amount of loans bank can disburse to large corporates. According Mr. Franco, it is time to reorient bank lending towards farmers, small entrepreneurs and other neglected sections. He also said that privatisation of public sector banks, will take the country back to the days when farmers and common people were denied loans by the private banks.Thumbnail Image Courtesy: Indian ExpressVisit and subscribe to our website at http://newsclick.in for more news and views on current events, science and technology, war, and global inequality.

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Banks banking system privatisation thomas franco NPA Ambani Private banks
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