Systemic risks: India's banking sector, Systemic Corruption and Failure of Institutions
The below three incidents are linked and has a reference to the ADANI SCAM context and beyond. The bigger picture includes, the non-performing assets of banks in INDIA, the misuse of public sector undertaking by corrupt politicians to favour corrupt businessmen who fund their elections, wilful defaults, tax evasions, money laundering, corporate fraud and the corrupt practices of the media controlled by oligarchs and cronies.
1. CONTINUING Loot of public money - MASSIVE Non Performing Loans –
Public-sector banks (PSBs) in Q3FY23 wrote off bad loans worth Rs 29,000 crore ($3.6 BIILION), up from Rs 23,000 crore in the same quarter a year ago, as part of a ‘clean-up’ exercise i.e. cronyism exercise.
https://www.business-standard.com/article/finance/psbs-write-off-rs...
2. Dr. Jaya Thakur’s petitions the Supreme Court of INDIA to investigate the Adani group
https://www.freelaw.in/legalnews/Congress-Leader-s-petition-seeking....
3. RAIDS on the British Broadcasting Corporation in INDIA; the FAILURE of INDIAN MEDIA to be a PILLAR OF DEMOCRACY
Editors Guild of INDIA condemn the raid on the BBC
https://twitter.com/IndEditorsGuild/status/1625430213286043648?ref_...
The below three incidents are linked and has a reference to the ADANI SCAM context and beyond. The bigger picture includes, the non-performing assets of banks in INDIA, the misuse of public sector undertaking by corrupt politicians to favour corrupt businessmen who fund their elections, wilful defaults, tax evasions, money laundering, corporate fraud and the corrupt practices of the media controlled by oligarchs and cronies.
1. CONTINUING Loot of public money - MASSIVE Non Performing Loans –
Public-sector banks (PSBs) in Q3FY23 wrote off bad loans worth Rs 29,000 crore ($3.6 BIILION), up from Rs 23,000 crore in the same quarter a year ago, as part of a ‘clean-up’ exercise i.e. cronyism exercise.
https://www.business-standard.com/article/finance/psbs-write-off-rs...
2. Dr. Jaya Thakur’s petitions the Supreme Court of INDIA to investigate the Adani group
https://www.freelaw.in/legalnews/Congress-Leader-s-petition-seeking....
3. RAIDS on the British Broadcasting Corporation in INDIA; the FAILURE of INDIAN MEDIA to be a PILLAR OF DEMOCRACY
Editors Guild of INDIA condemn the raid on the BBC
https://twitter.com/IndEditorsGuild/status/1625430213286043648?ref_...
PSBs write off Rs 29,000 cr in Q3FY23 as part of a clean-up exercise
According to estimates by rating agency CARE Ratings, the write-offs by PSBs in April-December 2022, at Rs 81,000 crore, were lower than the Rs 90,00…
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