03-05-2007, 08:44 AM
<!--QuoteBegin-Husky+Jan 26 2007, 07:21 PM-->QUOTE(Husky @ Jan 26 2007, 07:21 PM)<!--QuoteEBegin--><!--QuoteBegin-Viren+Jan 27 2007, 01:02 AM--><div class='quotetop'>QUOTE(Viren @ Jan 27 2007, 01:02 AM)<!--QuoteEBegin-->The siege of grievance concoction<!--QuoteBegin--><div class='quotetop'>QUOTE<!--QuoteEBegin-->But soon, a banker writing a loan cheque will have to take into account the borrowerâs religious practice. For, according to a report in The Economic Times, the government has asked the Indian Bankerâs Association to earmark a part of total loan disbursement for members of minority communities. On January 9, the banking division under the Finance Ministry told the IBA to set aside 15 per cent of priority sector lending in all categories for this segment. IBA in turn has asked member banks to furnish details of loans to minorities. This is the latest of the innovative communal initiative from the Manmohan Singh government.
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UPA directive will impact entire India - something even Emperor Aurangazeb could not do during his life time!!
[right][snapback]63587[/snapback][/right]
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What's happening in India now is merely a bribe at a national-level: the unethical, low means was formerly restricted to missionary terrorists who did it covertly (when there was no camera on) is now used by the 'Indian' government to do the same, openly.
All these monetary benefits will only last until majority is christoislamic, at which point the new laws will be scrapped (besides, it wouldn't make sense economically to start favouring very large masses of people).
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[right][snapback]63590[/snapback][/right]
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Husky: an update (though a bit late): RBI shoots down priority loans to minorities
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->RBI had earlier tried to convince the parliamentary standing committee that the plan was not viable. The banking regulator has time and again been trying to impress upon policy-makers that this may not be the best option to pursue.
The regulatorâs views are grounded in the code of banksâ commitment to customers drawn up in July 2006, announced by Banking Codes and Standard Board of India (BCSBI). It states that ââ<b>banks will not discriminate on the basis of age, race, gender, marital status, religion or disability</b>ââ.
The central bank and the Indian Banksâ Association (IBA) have told the government that <b>banksâ lending practices are based on the borrowerâs creditworthiness and not his caste or creed</b>.
Finance minister P Chidambaram is also not enthusiastic about the idea as bank managements are not in favour of it, a banking source said.
Early this year, the government had sent a letter seeking the opinion of both RBI and IBA on a proposal to earmark 6% of loans to borrowers from minority communities. At present, commercial banks must lend 40% of loans to farmers and small businessmen who constitute, along with a few other categories, the priority sector.
ââWe should not deviate from the basic principles of banking. <b>This proposal is not feasible and not desirable as banks lend on the basis of creditworthiness of an individual. We have communicated this to the finance ministry. Banks do not ask for such information from any customer. Both the FM and RBI share the same view</b>,ââ said a senior IBA official. <!--QuoteEnd--><!--QuoteEEnd-->
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UPA directive will impact entire India - something even Emperor Aurangazeb could not do during his life time!!
[right][snapback]63587[/snapback][/right]
<!--QuoteEnd--></div><!--QuoteEEnd-->...
What's happening in India now is merely a bribe at a national-level: the unethical, low means was formerly restricted to missionary terrorists who did it covertly (when there was no camera on) is now used by the 'Indian' government to do the same, openly.
All these monetary benefits will only last until majority is christoislamic, at which point the new laws will be scrapped (besides, it wouldn't make sense economically to start favouring very large masses of people).
.............
[right][snapback]63590[/snapback][/right]
<!--QuoteEnd--></div><!--QuoteEEnd-->
Husky: an update (though a bit late): RBI shoots down priority loans to minorities
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->RBI had earlier tried to convince the parliamentary standing committee that the plan was not viable. The banking regulator has time and again been trying to impress upon policy-makers that this may not be the best option to pursue.
The regulatorâs views are grounded in the code of banksâ commitment to customers drawn up in July 2006, announced by Banking Codes and Standard Board of India (BCSBI). It states that ââ<b>banks will not discriminate on the basis of age, race, gender, marital status, religion or disability</b>ââ.
The central bank and the Indian Banksâ Association (IBA) have told the government that <b>banksâ lending practices are based on the borrowerâs creditworthiness and not his caste or creed</b>.
Finance minister P Chidambaram is also not enthusiastic about the idea as bank managements are not in favour of it, a banking source said.
Early this year, the government had sent a letter seeking the opinion of both RBI and IBA on a proposal to earmark 6% of loans to borrowers from minority communities. At present, commercial banks must lend 40% of loans to farmers and small businessmen who constitute, along with a few other categories, the priority sector.
ââWe should not deviate from the basic principles of banking. <b>This proposal is not feasible and not desirable as banks lend on the basis of creditworthiness of an individual. We have communicated this to the finance ministry. Banks do not ask for such information from any customer. Both the FM and RBI share the same view</b>,ââ said a senior IBA official. <!--QuoteEnd--><!--QuoteEEnd-->