So after giving a totally new model of banking (we call it the ABC Model), we are back again to court some controversy over here. We are telling from our own experience in the banking and other government sectors that bankers are some of the most meekest people in our country, which is the primary reason why they are being used more or less by everyone, ranging from the political class to the aam junta as a hanging bell on the door of a temple which can be banged by anyone. Don't believe us? Just try misbehaving with any banker in any bank and there is a very good probability that you will be treated in the best of Gandhian fashion and even after repeated insults, shouts, tantrums, and name-callings - all that you will get in return is a "Thank you Sir" at the end. And now try the same "bang bang" in any other government office and just make sure that you bid a good hearty adieu to your family before you do so, because in all probabilities, you will end up behind the bars for a pretty long time. Now, the reasons for the same are much much many and we don't want to extrapolate on them. Our point is something else - we just wanted to highlight that bankers are being made a "Mandir ka Ghanta" one more time (anyways, they are much used to it by now and just don't care!) by the RBI itself who believes that the poor credit appraisal skills are the reason behind the rising NPAs in the present banking ecosystem. Please click here to read the complete article.
You tell banks not to take No Objection Certificates for "small loans" up to Rs. 1 lac in case of agriculture sector since there are credit information companies who give the entire janam kundalis of the borrowers and hence the banker need not take any other precaution. But just for your information dear RBI, CIBIL is heavily dependent on the PAN card and Aadhar card data, whose penetration is hardly only 30% to 40% in our country of nearly 1.3 billion population. We can give you live examples of people who are defaulters in various banks and yet their CIBIL score comes out to be -1. And the worst part; there are thugs who just take a loan from a bank, rotate the money, and then close the account before the due date - thus increasing their CIBIL scores to rocketing levels; but in reality they are nothing but thugs after all, who do no productive work or add anything to the GDP of the country except doing the work of inflating the already inflated prices by rotation of public money. For the poor common banker, these thugs are HNI customers at prima facie inspection!
In case of agriculture, you tell that up to Rs. 1 lac loan and for MSME, up to Rs. 10 lac, no collateral security needs to be obtained. We are sorry to say but we are working really really hard to save our entire life savings in your banks and what you are telling banks is to just distribute our money like "prasad" at a temple? What if the borrower avails multiple finance from various banks using the CIBIL loopholes to his advantage? Rs. 10 lacs from 10 banks can amount to Rs. 1 Crore if I am correct in my primary school mathematics.
So, again back to our point Oh Great RBI - please show - and not guide- the aam banker how to lend by issuing clear-cut guidelines on appraisal techniques and if required tell your officers, who are nothing less than Knights in Shining Armours for the poor bankers, to sanction a few loans themselves by actually signing the sanction letter and shoulder some responsibility themselves also - if not for anything, then just for the adrenaline rush that you receive during the various sleepless nights when you think - "Did I just give a loan to a wrong person?"
Just for a change - A Caustic Ethmos to all!
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