Today, the matter of coercive loan recoveries was raised in parliament. As you know banks & financial institutions deploy all kinds of tricks to recover loans. Banks sometimes even hire burly bouncers as recovery agents, and this muscle for hire is used to threaten people to recover loans. Today, during the question hour the issue was addressed by Finance Minister Nirmala Sitharaman. She said banks have ben instructed to ensure no harsh measures are taken for loan recovery. Watch.
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1 min read31 Oct 2007The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared