In olden days in villages, some financiers were taking money from the villagers at a high rate of interest. Then they were giving the money to the needy for a very high rate of interest. These people after some period of time used to go bankrupt. The investors were not getting their original amount even. Those days people used to think keeping money in banks is safe. But now even that confidence has gone.
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease
I strongly feel, before we reform the system, all the banks should be scrutinised by national external auditors as a matter of extreme urgency and all the attests of the companies and people with outstanding loans should be seized. A new law has to be approved by all the parties to immediately seize their passports and personal treasures including overseas bank accounts. When India does this on a war footing, then the burden on the tax payer would be more easier.