Sunday, October 21, 2012

Shameless Bankers of India

"Selling assets of Kingfisher is last option for the lenders" - bank officers

One cannot stop laughing thinking about this absurd statement. Everybody knew that there is nothing left in kingfisher. The aircraft are leased and if at all anything to be salvaged by sale of assets, the first priority to be given to employee's salary which has not been paid for few months now.

The blood sucking bankers if at all they are interested to get back their money, they should have proceeded against kingfisher few months ( couple of years??) back. State bank of India ironically converted a portion of debt into equity valuing at 60 Rs per share when the shares traded at 30-40. Who will initiate probe against the responsible officer(s)?

Indian government on its part quite shamelessly expecting some foreign idiot to come in and invest in this bankrupt airlines. The government's aim is to save the ass of state run banks and they are not really interested in FDI in aviation. Otherwise they need not have added a clause which stops new airlines companies to form in India with FDI.


When inflation is at 8% consistently and CPI threatening to cross double digits Axis bank chairman and HDFC GM are pitching for rate cut. Again shameless act of trying to save their ass when country to going to dust.


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