Wednesday, June 4, 2008
RBI ban sahara for taking deposits
It was long expected and now it has happened. When will our government wake up and be proactive in regard to NBFCs ? Poor public is being cheated again and again. These people live life king size at cost of tax payer's money and by the time they payment default starts and action is initiated, they have lived a royal life for 20 years and may be stashed away an equal amount for the future. And the sad thing is many celebrities associate themselves with the projects either as directors or some other way making them look like bonafide concerns. In India we take filmstars very seriously and when stars like Amitab bacchan, shahrukh khan hobnob with them, the prospects sound quite real and attractive.Its time govt took some action and even people endorsing a product must be made accountable for any scam, the way it happened with Hometrade.