PSBs gift corporates freedom from debts worth Rs 4.37 trillion during 2018-20
India’s public sector banks collectively wrote-off Rs 4.37 trillion-worth non-performing assets between April 2018 and December 2020, benefitting corporates.
debt waiver of PSU Banks
Rakesh Jhunjhunwala, the share market’s prospects and IBC’s failure
Rakesh Jhunjhunwala asserted that investors shouldn’t be swayed by the inflation. Given the worsening NPA situation of the PSBs, can the markets stay safe?
Privatisation: A doomed attempt to provide oxygen to crisis-ridden capitalism
The privatisation of public sector undertakings by the Modi regime is a frantic attempt to revive crisis-ridden capitalism with free oxygen. It won’t help.
Resist public sector bank privatisation through mergers to save the economy
Nirmala Sitharaman’s decision to merge 10 public sector banks into four big banks is actually a step towards their privatisation, which must be resisted.
Resistance to Modi’s “big bang reform” plan is imperative to save the poor and India
Modi’s attempt to sell off India, its resources and labour to foreign and domestic corporations under the garb of “big bang reforms” must be resisted by all
Cat to Guard Fish: Assocham Demand of PSU Bank Privatisation
It’s not yet a week that the ₹11,400 crore worth PNB scam involving Nirav Modi and Mehul Choksi, two close aides of the Narendra Modi-led BJP government, became public, Assocham, an organisation that represents the interests of corporate India, started unashamedly raising the demand for privatisation of the public sector banks (PSB) to prevent the … Read more
The Jewel Thief: Analysing the PNB Scam by Nirav Modi & Co.
Last week, a shocked India confronted a gigantic banking scam, unprecedented in terms of magnitude and methods employed. A big comprador and crony capitalist, Nirav Modi, who owns a large chain of designer diamond jewellery business throughout the world, along with his partners, duped the second-largest public sector bank of India, Punjab National Bank (PNB), … Read more
Arun Jaitley Made ₹10 Trillion Worth Hoax Promise
Narendra Modi government announced a ₹10 trillion investment to revive the economy, out of which ₹7 trillion will be spent in building infrastructure, especially 83,677 km of roads and highways and ₹2.11 trillion to recapitalise the PSU banks. The road building will be done under a fanciful name of Bharat Mala and the PSU recapitalisation … Read more
Corporates Looted Rs 1 lac crore from PSU Banks
(This article was first published in September 2015 in the previous version of People’s Review. Due to an incident of hacking the old website was pulled down and we could only restore the old articles in this section) The great Indian loot is here. According to a report published by the Indian Express, it was … Read more