Let me try and de-construct the present Bribery Scam
a) It is a fact that Housing Loans have lowest interest rates
b) People seeking loans for other purposes sometimes... do some creative paperwork to get Loan sanctioned as Housing Loan.
c) It is also a fact that many big & small ticket loans are only sanctioned by greasing someone's palm
So some people/company got loans sanctioned as housing loans and the was money deployed for whatever reasons other than what it was sanctioned for.
Why should the lenders exposure of whatever amount lent be at risk... considering they are secured loans.
In my opinion things have got way overdone in LICHSGFIN & other banks....whereas the ones who have borrowed is way underdone... and going forward should correct a lot more....
Finance Ministry's attempt at damage control is only from the view of all the PSUs slated for IPO/FPO
Even a normal cyclical correction in the market sometimes is triggered by some bad news... which is exactly how it started for us from mid November.
SavantGarde
a) It is a fact that Housing Loans have lowest interest rates
b) People seeking loans for other purposes sometimes... do some creative paperwork to get Loan sanctioned as Housing Loan.
c) It is also a fact that many big & small ticket loans are only sanctioned by greasing someone's palm
So some people/company got loans sanctioned as housing loans and the was money deployed for whatever reasons other than what it was sanctioned for.
Why should the lenders exposure of whatever amount lent be at risk... considering they are secured loans.
In my opinion things have got way overdone in LICHSGFIN & other banks....whereas the ones who have borrowed is way underdone... and going forward should correct a lot more....
Finance Ministry's attempt at damage control is only from the view of all the PSUs slated for IPO/FPO
Even a normal cyclical correction in the market sometimes is triggered by some bad news... which is exactly how it started for us from mid November.
SavantGarde