Indian banks including ICICI etc send Goons for recovery of loans from Farmers resulting in poor Indians Sucides!But these very banks In USA a democrtic country waived off the Housing Loangiven USA citizens thru SUBPRIME Loans!why they do not send goons for recovery or file suit for recovery in courts as they do in India !why these even Indian banks waived off the loans to American citizens so called Democratic country and do not send goons for recovery as they do in India?
Hiring goons is COMPLETELY unjustified. I mean, over some f**king paper notes, wives should go widows? ANd sons motherless? I mean, these are damn notes of paper, for crying out loud. It has economic value, but that's about it.
A high recovery risk and a greater default % is one of the realities of a developing economy. But as a trade off, the banks get better rates. And better profits. So, naturally risks would follow.
So even if it comes at the cause of a widow or a fatherless / motherless child or children and ruining of full households, those banks are intent on getting the best out of a developing economy, but at the security of a developed- by causing deaths.
Seriously, th ...more