Jul 08, 2005 01:03 AM
4412 Views
(Updated Jul 08, 2005 01:08 AM)
Indeed ''Lending Should be a Dharma for Banks'' - Quote P Chidambaram's speech on July 1, 2005!
https://hindu.com/2005/07/02/stories/2005070217120100.htm
In the Indian context, the related other Dhrama perpetuated by Finance Ministry, India (of which P Chidambaram is the current boss....July 2005!) is worth reflecting upon:
....Lending Should be a Dharma for Banks.
....Loan write-off (thus creating NPA for banks) is the Dharma of the Politician.
....Thanks to the institutionalised corruption, finding only 80000 tax payers with income above Rs10 lakh across the length & breadth of India, is the Dharma of the Tax Administrators.
....Funding the cost of all three, is the Dharma of the honest but harrassed tax-payer!!
After all, bad economics is good politics.
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