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  • Category: Miscellaneous

    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?
  • #627517
    One wrong cannot be justified with another wrong.
    I love chocolates and ice creams!

  • #627530
    What the nationalised bank holds is our money. What it loans is our money. What it handles is the tax payers money. We have all the rights to question the bank about the corruption that has taken place in the nationalised banks. Yes. We public can go on strike/hartal/bandh to get the people concerned arrested and money recovered. We should continue to pay our EMI, but ensure the defaulters are properly dealt with.
    No life without Sun

  • #627547
    The bank scams are very disturbing. How the hard earned money paid by all of us in the form of taxes is getting wasted like this? We are all hearing the news and getting worried. But what we can do? Just as a silent spectator we are watching the happenings. Really if we want to do something also, the so-called leaders somehow see that the matters are closed very nicely.
    We can stop paying EMIs. But your house originals are with the bank. They will somehow manage to get back the money what they have loaned us including interest. But when they give to big people huge amounts there will not be any collateral securities and the banks can't recover the money. The bank officials will make huge amounts by sanctioning loan to them. So they are not worried. You are not giving anything to them. so they are worried about our loans.

    always confident

  • #627559
    EMI's are one of the sources from where the bank earned its salary so EMI never going to get end up. However due to few incidences we are so emotionally acting which at once never practical. Need to remember that still only few are corrupt & not the whole community. Its important to know that only the weaker are target so stop behaving as you are weak. Adding, we can only be stronger when we are aware of our rights & about its implementation. This could be the eye opener because we are so much busy in our life that only when the problems comes to us then talk of our rights & then we mind our own business forgetting the rest. Again the saddest part.

    I am sure of that in some time we will be talking of some other concern & not about the banking scams because this has become our approach.

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