Continues
from the previous post -
Gamblers
– this is one more class
of financially active group who wants loans at lowest rates. They may
be putting their money on horses, motor race, cricket matches and
many such places of gambling. Their need is of short-term type and
they make a lot of black money out of that. This group joins with the
other groups we have just discussed.
Speculators
– this group works in the
similar manner and need easy money from banks. Generally, they are
the people who could be defaulters of their loans. Shares Market,
Grain market, Cotton market such are places where they put their
stakes and work on the same lines as forward traders. They insist to
have loans at lowest possible rates. They join the group just
mentioned in my earlier discussion.
Crony
borrowers – this group
takes loans from banks and never wants to pay back. They are friends
of Bank directors, bureaucrats or politically influential persons.
Most banks are duped by this category of borrowers.
All
these gambler group type borrowers are behind the conspiracy (all
over the world) to reduce bank interest rates. When bank interest
rates reduced everybody, (all borrower groups) benefit and so they
all try to justify the reduction.
When
we cannot implement social security considering enormous population
we cannot allow reduction in interests on bank loans and bank
deposits. In many developed countries, they have social security of
many types. India does not have social security provision therefore,
citizens need provide for themselves. That is why in India we cannot
advocate for reduced rates on bank deposits. In most advanced
countries have this facility of many sorts; therefore, there this
reduced rate is justified by gambler groups.
Helplessness
of bank depositors as being most neglected society, both Banks and
depositors are principle victims of reduced interest rates. There is
no protector for this section of society. We need rise against this
aggression of gambler group in a typical democratic ways such as
demonstrations, coming on street and other agitations. We should
bring awareness amongst public on this issue so that fooling of
people by gambler group by using their smart arguments we can
control.
Continues
in the next post –
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