Banks want Bailouts
Everyone wants a bailout from tax payers money. Why can't they come up with innovative ways to generate this revenue of 5000 odd crores rather than asking Govt.
I hope Govt doesnt give in to such requests otherwise we will become bailout nation. more
Banks give loans without proper security. They become bad loans. They go to politicians for help, because politicians recommended those loans. Those NPA owners declare them self as bankrupt. The kind heart politicians help Bankrupt NPA owners bu helping Banks with Bail out/ bail -in.
Finally those bankrupt business people become country's richest/ world's richest.
There is an old saying that one can not become crorepati, unless declaring them self as bankrupt at least ones more
The digital transactions help banks in reducing their workload by automating the system and reducing infrastructure costs like branches, manpower and other facilities expenses.
Visa and MasterCard do not have swanky branches in Multiple locations across cities. But they sill make lot more money than other payment gateways in India.
This needs to stop and Indian Banks can learn and take a lesson from them.
Government should not bail out the banks or any other institution or Industry until its a natural calamity. Taxes are collected for the benefit of people and not for spending on correcting other's willful sins. more