Bank scams: Can we stop paying our EMIs?There seems to be wave after wave of news coming about scamsters defaulting on loans. These are not small loans, these are multi-crore scams.
Many of us are angered and frustrated because we are unable to do anything. If such scams are blatantly allowed by the banks and the regulatory authorities, why can't we raise our voices?
For instance, can we stop paying EMIs for a few months to save our hard earned money and protest to put a freeze on all imminent big loans that in the pipeline? Can we demand each bank where our accounts are to know who many big loans do each branch have pending?
Some may even feel that if people can escape with crores of loans without paying dues, why should I pay my very small EMI of 30 or 40 thousand?