scorpio90 Posted August 22, 2014 Posted August 22, 2014 Retweeted by Mallikarjuna pmfor2014 @pmfor2014 26m BIG BANKING PSU SCAM TO HIT INDIA SOON-- WILL UPDATE ON THIS MATTER SOON.. GETTING DETAILS NOW... SCAM DONE BY CHIDU/SG/ AJ TRYING TO SAVE From Twitter, @pmfor2014. I am posting all his tweets without any alterations. I cannot vouch whether its complete rumor or initial smokes of big fire (నిప్పు లేనిదే పొగ రాదు). - BIG BANKING PSU SCAM TO HIT INDIA SOON-- WILL UPDATE ON THIS MATTER SOON.. GETTING DETAILS NOW... SCAM DONE BY CHIDU/SG/ AJ TRYING TO SAVE - Should this PSU Loan scam surface, we see SUBPRIME Like Crisis in India, drying up of capital,big Defaults & many PSU banks will go belly up - SOS to @narendramodi @PMOIndia ring Fence SBI,Coal India,ONGC. In month of May i have said that BIG SCAM & balance sheet dressup in ONGC - Why strong reforms were not done?Because there is big gaping hole in Finances of most of small PSU banks.Fears of big NPAs in SBI too. - LIC Insurance - bought Shares of dubious companies & Loss making PSUS on behest of CHIDU.. BOth LIC insurance & PSU banks are in bad shape. - When @narendramodi was informed about this,he said we must bring it out in open to the people but AJ said that Stock market will crash. - When @narendramodi was to unravel the Big ticket reforms, He was informed by AJ about PSU bank scam,AJ said that Rupee may head back to 70. - Very tough days ahead for @narendramodi .. RBI govt RR & @narendramodi are devising plan to come out of this crisis.Will update more info .. - Unlike 2gscam & coalscam, The PSU bank Loan scam will impact savings of Common man & create havoc.NPAs amount equals to 2gscam!!! - Unknown companies were given Loans by these PSU banks, later some of these companies went belly up.Some of them acted as front of Cong pol - OBC & dena bank fiasco , Bhusan steel & Syndicate bank bribery case just tip of iceberg. - Fear of Rupee heading to 70/73,mass exodus of Fiis money frm Stock market,Psu banks going belly up & chaos in inter bank lending market.. - Culprits -- MDs of PSU banks,Chidu,SG,Real estate companies,fictitious companies getting loans for building power plants/infra project. - Some of these fictitious companies r shell companies or front of cong poli.AJ if of the view :no point to blow the lid off.Lets buy time - RBI gov RR , @narendramodi & PMO team r our best hope.RBI gov briefed NaMO & AJ about fictitious companies & handed over list of such comp - Very Important to Ring fence SBI, Lic Insurance,ONGC,COAL India & OMC PSUS.CMDs of all PSU banks must be replaced if need be. May be this is why SBI is now harassing normal customers. From a person who is facing their high-handedness - Indulge the patience of the mods and fellow members - I know this does not meet the fourm charter anyway but seek advice as this is causing me a liability of 5 lakh. Thought of posting it in nukkad but given the pace, it will soon be hidden from the view. I had taken a home loan from SBI with those teaser rates in 2005. There was a clause for interest rate revision every 3 year. The rate was revised up by a very small increment in 2008 and since then the rate was kept the same. However, recently SBI sent me a notice for payment of close to 5 lakh where they calculated with a very high interest rate from 2008. When I enquired with the bank, they simply told me that the old rate was a mistake and this high rate was supposed to be charged and hence they are doing retrospective revision. My argument that had they informed me of this high rate at 2008 I would have closed the loan then and there fell on deaf ear. Two of my colleagues have received similar notice from SBI. We had separate talks with a few of sympathetic SBI employees and as per rumour mill, there are 2.1 lakh people receiving this kind of notice. Anyone knows how to tackle this? I have taken advice from a few lawyers and all of them are advising me to go to consumer court but none are 100% sure of outcome. I am still going out with it though. It can not be an act of simple mistake if 2.1 lakh people are suffering from this. Even if it is a mistake, it is definitely bank's responsibility and the bank can not ask me to pay additional amount arising due to bank's failure to inform me the right rate of interest applicable to my loan. Is there any NGO who can fight this out with SBI on behalf of 2.1 lakh suffering consumer? I do not know if in India we have something similar to class action law suit. Anyone, please? Not that 5 Lakh can not be arranged but it leaves a very bad taste in the mouth to be cheated like this.
scorpio90 Posted August 22, 2014 Author Posted August 22, 2014 Balaji temple deposits 1,800 kg gold offerings with SBI http://economictimes.indiatimes.com/news/politics-and-nation/balaji-temple-deposits-1800-kg-gold-offerings-with-sbi/articleshow/39494563.cms A whopping 1,800 kg of gold offerings made by devotees of Lord Venkateswara at the famous hill shrine at Tirumala was today deposited with the State Bank of India, taking the total deposits made by it so far with various banks to more than 5,000 kg. Executive officer of the Tirumala Tirupati Devasthanams (TTD), which manages the cash-rich temple, M G Gopal handed over the gold to State Bank of India (SBI) Chairperson Arundhati Bhattacharya at the TTD Headquarters here, in the first deposit of the precious metal by the temple in the last two years. The gold offered by devotees in the hill temple hundi was deposited under SBI Gold Scheme for a period of five years at the rate of interest of one per cent, which effectively would mean addition of 12 kg of gold per year, Gopal told reporters. "TTD has not made any gold deposits in the last two years as the banks have stopped accepting gold due to restrictions imposed by the RBI. After negotiating with various banks, SBI has first come forward to accept the gold deposits at one per cent interest rate per annum and we welcomed it," he added. Bhattacharya said in terms of quantity, this was the largest single deposit of gold made with the bank in the entire country. "We are fortunate to be a part of this divine mission. The deposited gold will be taken to Government Mint at Mumbai by SBI by incurring transportation charges, transit insurance, melting and refining charges and pure gold of 0.995 purity is taken as gold deposit," she explained. The interest on gold deposit was likely to fetch TTD around 12 kg of pure gold every year, netting a total of around 60 kgs in the five year period, temple sources said. Since 2010, on maturity of gold deposits, TTD has been converting the interest earned also into gold which would again be kept as deposits, they said. Excluding today's deposit, TTD was having around 4,335 kg of pure gold under gold deposits with the SBI, Corporation Bank and Indian Overseas Bank. These gold deposits earn an interest of 70 kg of pure gold approximately every year to the TTD coffers, they added. Did Tirupati Balaji just save SBI from deep trouble? If yes, this is slap in face of all those who were crying over Padmanabhswamy temple gold deposits. That gold belongs to Hindus and when Hindus feel it, they will use that gold to save their country.. but they should demand autonomy in their religious affairs in exchange for this.
scorpio90 Posted August 22, 2014 Author Posted August 22, 2014 By Diga: ^ I did see Sucheta Dalal tweeting about it... ps: For those not aware of Sucheta Dalal, she was one of the people who exposed Harshad Mehta/securties scam
scorpio90 Posted August 22, 2014 Author Posted August 22, 2014 Sucheta Dalal @suchetadalal · Aug 20 A bribe is a bribe. But 70k to clear films has CBI panting! This is the biggest problem we have?Fresh bad loans by banks 4.5lakh cr in 7yrs! Sucheta Dalal @suchetadalal · Aug 20 Bankers claim they are running scared. A trick to derail action against corruption? http://www.moneylife.in/article/used-to-getting-away-scot-free-bankers-upset-about-corruption-charges/38525.html After running up fresh bad loans of Rs4.95 lakh crore in just seven years, public sector banks (PSBs) seem to be resorting to their usual tactic to get the government off its back. After the arrest of Syndicate Bank chairman & managing director (CMD) SK Jain and the promoter of Bhushan Steel, Neeraj Singhal, banks have gone into what they describe as “panic mode”. This is essentially like a doctors’ strike, which hits patients the most. Bankers are claiming to be so ‘upset’ with the Central Bureau of Investigation’s (CBI) action in tapping phones and tracking the dubious deals of public sector bank chairmen, that they won’t take calls from borrowers anymore. Bankers, including central bankers, tell us that nobody in banks wants to take decisions anymore. This is now a familiar pattern and going on for decades. Harassed borrowers then approach politicians and all investigations stop. At the root of the problem is the Reserve Bank of India, which has refused to act. In connection with our article, “Rot at the Top” about lack of accountability in Reserve Bank of India (RBI) and public sectors banks, Mr MR Sivaraman, a highly regarded retired Revenue Secretary of the union government, wrote to us with an interesting story about RBI’s negligence. “In my time in 1995 we uncovered a scandal in the South Indian Bank in Mumbai which was accepting cash in gunny bags and opening foreign letters of credit (LOCs) in Hong Kong etc. on the production of forged bills of entry of electronic goods allegedly imported from Hong Kong”. The amount involved was around Rs270 crore. Mr Sivaraman says, “That alerted me and I wrote to chairmen of all banks and discovered that this was the modus operandi of certain hawala operators and many banks had lost foreign exchange in this manner but had been cleared by the RBI during inspections. I took exception and wrote to the then Governor Dr Rangarajan about RBI's lapses. He kept mum. Then Dr (Manmohan) Singh unusually asked me to move into the RBI and investigate how they neglected such a huge hawala operation. I did not do it to preserve the integrity of the RBI. But Rangarajan did not act. Ravi Vir Gupta, who was Deputy Governor (at that time), assured me that they would act. They did not and only (Governor) Bimal Jalan acted to stop the practice. What happened to the case? There was another 'Harshad Mehta' who was the king pin. But the officer who arrested him, Prabhat Kumar, a brilliant IRS officer in the Enforcement Directorate (ED) at that time in Mumbai, was shunted out by the then National Democratic Alliance (NDA) government. He apparently resigned -- that is what I understand as I left for Washington after the case was well on to the courts. This is just a summary as the whole case was more thrilling as it involved some prostitutes, bank accounts in Hong Kong, false passports of the prostitutes and so on. This is just to show that the RBI has never been infallible and there have been officers who were very lax and allowed things to drift”. Mr Sivaraman has named names and we have not sought the feedback of those who he has named. We will however, incorporate their response, if any. Mr Sivaraman’s mail shows that loot at banks and the burying of investigation has followed a similar pattern irrespective of which government is in power. It remains to be seen if the Narendra Modi government will act differently and call the bluff of bankers and force the Reserve Bank to act. Things are indeed slightly different this time, because the numbers are scary. Also, top bankers, guilty of colluding their large borrowers, don’t have the support of their rank and file staff or their trade unions. Fresh bad loans of Rs4.95 lakh crore in just seven years! (Public Sector Banks) Fresh/new NPAs during 2009-10 Rs44,818 crore Fresh/new NPAs during 2010-11 Rs58,226 crore Fresh/new NPAs during 2012-13 Rs92,808 crore Fresh/new NPAs during 2012-13 Rs1,19,613 crore Fresh bad loans in the last 4 years (2009 to 2013 ) Rs3,15,465 crore Fresh bad loans in the last 7 years (2007 to 2013 ) Rs4,94,836 crore In a letter addressed to the chief election commissioner (CEC) in March 2014, CH Venkatachalam, General Secretary of the All India Bank Employees Association (AIBEA) wrote: “What is disturbing is that amounts involved in wilful default of bank loans are also increasing. Some of these defaulters are holding high positions. One of the borrower companies in which a central minister is directly connected is also a defaulter to the tune of Rs350 crore. Two top loan defaulters are Padma Sri Awardees and owing to banks Rs930 crore and Rs580 crore, respectively . Another top defaulter is a member of the Rajya Sabha owing to the banks more than Rs6,000 crore. Hence, besides various other existing disqualifications as provided under the Constitution and the Representation of People Act, 1951, a specific provision should be added to debar and disqualify candidates from contesting in the ensuing elections to the Lok Sabha, if they or the companies in which they are connected are defaulters of loans to Banks. We seek your urgent attention in this regard for doing the needful.” People have high hopes from the Modi government. In a recent meeting in Haryana, Narendra Modi promised action to root out corruption. Public sector banks are one concentrated source of corruption right under the nose of ministry of finance and Reserve Bank of India
scorpio90 Posted August 22, 2014 Author Posted August 22, 2014 https://twitter.com/suchetadalal/status/501937120181641216 Sucheta Dalal- Extraordinary! Looks like Congis in a panic. few trolls desperate that we dont discuss loot of banks! start to abuse! skeletons rattling?
asterix Posted August 22, 2014 Posted August 22, 2014 The scam is not in MSM at the moment. I think Congi mole Jaitley will sit on this and try to cover up...
surajmal Posted August 22, 2014 Posted August 22, 2014 People have been hinting at Collapse of PSU banks for a couple of years now. If Namo knows it, hope he throws it open to the public sooner rather than later. Sh!t will hit the fan at some point anyways, let it be now and bury Congi Mafia in it.
asterix Posted August 22, 2014 Posted August 22, 2014 People have been hinting at Collapse of PSU banks for a couple of years now. If Namo knows it' date=' hope he throws it open to the public sooner rather than later. Sh!t will hit the fan at some point anyways, let it be now and bury Congi Mafia in it.[/quote'] Action needs to be taken fast else Congis might start blaming BJP for not taking any action and complicity.. Also, offlate, I'm witnessing SC being pretty nasty against the Govt. I'm guessing this is because of the recently passed Judicial Appointment Bill... SC's (read Lodha's) way of getting revenge against the Govt. The Uttarakhand Guv is already cashing in...
diga Posted August 22, 2014 Posted August 22, 2014 Action needs to be taken fast else Congis might start blaming BJP for not taking any action and complicity.. Also, offlate, I'm witnessing SC being pretty nasty against the Govt. I'm guessing this is because of the recently passed Judicial Appointment Bill... SC's (read Lodha's) way of getting revenge against the Govt. The Uttarakhand Guv is already cashing in... SC has asked center to reply within 4 weeks as to why there is no leasder of opposition ... :--D
asterix Posted August 22, 2014 Posted August 22, 2014 SC has asked center to reply within 4 weeks as to why there is no leasder of opposition ... :--D You'll find SC more 'active' in coming days... The Judicial Bill has riled them up...
Malcolm Merlyn Posted August 22, 2014 Posted August 22, 2014 SC has asked center to reply within 4 weeks as to why there is no leasder of opposition ... :--D The SC doesnt have jurisdiction regarding what happens in the parliament.Congis when in brute majority never gave LOP post to anyone.
Malcolm Merlyn Posted August 22, 2014 Posted August 22, 2014 I wont be surprised if Congis used PSU banks to fund their pockets.They are pathetic.
Number Posted August 22, 2014 Posted August 22, 2014 6 lakh crore. effing massive. If it is swept under carpet then might not be supporting BJP ever. My suspicion is Jaitley is very close to Gandhi family and some top Congress leaders. Also he has been Namo/Shah's legal adviser in many cases so he knows all their good/bad deeds, so Congressi chors might as well get away with it.
Malcolm Merlyn Posted August 22, 2014 Posted August 22, 2014 Jaitley is powerless if Shah and Modi decide to do something.
asterix Posted August 22, 2014 Posted August 22, 2014 Jaitley is powerless if Shah and Modi decide to do something. Jaitley is a slimy mole... Don't under estimate him... He should be monitored by RSS guys in BJP... I'm pretty sure Jaitley will play a major role in saving Congis in this issue... He already sat on the ED investigation of National. Herald case... Jaitley also made an insensitive statement (intentionally) about the Delhi rape case recently... It could affect BJP's chances in coming Delhi elections...
FischerTal Posted August 22, 2014 Posted August 22, 2014 Ab aayega mazaa... you blaming modi for this? :hysterical:
asterix Posted August 22, 2014 Posted August 22, 2014 you blaming modi for this? :hysterical: I think he's happy hoping that SC will take on Modi...
Sachin=GOD Posted August 22, 2014 Posted August 22, 2014 you blaming modi for this? :hysterical: No. I'm saying ab aayega mazaa regarding Kaangresis whose names will come out IF this investigation is pushed forward.
FischerTal Posted August 22, 2014 Posted August 22, 2014 No. I'm saying ab aayega mazaa regarding Kaangresis whose names will come out IF this investigation is pushed forward. as long as jaitley is there, nothing will happen :agree:
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