Letter to BS: Modi government should revisit the lending policy of banks

It has been proved beyond doubt in the past that good performance alone is not the deciding factor to install a popular government

The arrest of Rotomac Pens owner Vikram Kothari well before he planned to flee the country is some consolation. The report has it that a consortium of seven banks had extended multi-million credits to the Kanpur-based firm and its related companies 2008 onwards. For loan-defaulters and scamsters, the period between May 2004 and May 2014 was a golden era. But the sufferers are common people with additional dose of taxes imposed on them to resurrect the sagging economy. It is rather intriguing that more and more scams pertaining to the period of an economist Prime Minister have started tumbling out.