Then in 1999 our company paid bribes to the tune of Rs. 1 crore to get a bank loan of Rs. 30 crores for a project with a total outlay of Rs. 8 crores. This was from a consortium of banks including leading private and govt banks of today.
No wonder the NPA loans of banks are skyrocketing. Such loans are doomed right from the beginning because the sanctioning process itself is not proper.
I really wonder where are we heading???? more