An Indian Civilizational Perspective

Poors pay their loans, Rich don’t: Chidambaram (from experience?)

India’s Finance Minister has some advise for the banks in India.  Specially from the standpoint of the poor.

“The point which I have driven home so many times, the poor in India are not bad borrowers, the poor in India are not dishonest borrowers, the poor in India are ethical, honest, are deserving borrowers. Therefore we must lend more to the poor,” he said at a function.

Interesting.  And what about the rich?

“In fact a big business house can easily raise a thousand crore rupees…They can even not pay their loans. The story is that if you are a small borrower you go after the bank and if you are a big borrower the bank is to go after you,”

Well, he should know!  He and his associates – including the other ministers – have now looted billions of dollars from the treasury through rampant corruption!

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