Monday, October 9, 2017

Catastrophe of bank interest rates – 24

Continues from the previous post –

In addition, that is precisely what happened. As of March 31, 2016, the bad loans of public sector banks reached 9.32% of their total loans. A year back, they were at 5.43% of their total loans. That is a huge jump in just one year. We should put all bad loans in categories as given above. If that done we shall know the exact nature of causes for that. Banks do not have any powers to interfere in working of their borrowers. This makes the bank helpless in such situations. Technically speaking most banks in world is on the verge of bankruptcy. This is because of reduced interest rates on both sides.
The only solution to this is that we rise against this conspiracy of gambler group and its crony economists. Most depositors are not aware of this conspiracy and they continue to believe their political leaders. The attempt to prepare this essay is to educate them about their rights as depositors. After long research it has become clear that best co-relation between interest rates on deposits and loans is that deposits should earn at least 12% per annum for period of 3 years and loans can be charged 15 to 30 % interest on them. This depends upon what is the cause for borrowing in first category, "Real economic group".

This article ends here; in my next post, we shall see intelligent vote bank strategy of Bharatiya Janata Party.
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