Non Performing Assets
Growth rate 7.3% is due to the dipping oil prices, as we have to pay less foreign exchange. It has enhanced the growth rate.
The actual picture of economy is grim, the Non Performing Assets have accumulated in PS – banking.
Nobody is paying EMI on Home Loans, Industrial Loans and Agriculture Loans etc.
The bank profit has come down 60%.
Raghubir Lal Anand thinks if the tempo goes in this manner it can collapse anytime and a big financial crisis for the country as happened in US and now in China – Directionless rightly quoted by Arun Shourie, BJP.
Public sector banks sending huge forex out from the country may be to terrorist for subversive activities.