India

Banks won't reduce ₹1 from a common person's outstanding loan, but those in Godimedia who have Modi-Shah's backing can get anything.

Yes bank's common man customers will foot his bill. "Na khaaonga, na khaane doonga" has to be Modi's biggest jumla.

Same fellow in 'SEBI Details How Zee Promoters Goenka And Chandra Diverted Funds' : https://www.bqprime.com/business/sebi-details-how-zee-promoters-goenka-and-chandra-diverted-funds

From @paul_koshy

#YesBank transferred ₹ 48,000 Crores of its bad loans to the "Assets Reconstruction Company " (ARC)

An Asset Reconstruction Company is a specialized financial institution that buys the NPAs or bad assets/bad loans from banks and financial institutions so that the latter can clean up their balance sheets.

Of course, this provision exists only for the super rich individuals and wealthy corporates.

When these bad loans are transferred by the banks to the ARC, it is done at a discounted rate. To explain it in detail, if the recoverable amount from the customer is 1 Crore that includes the principal amount and loan interest, the ARC buys if the loan typically at around 50% discount (best case scenario) . Thus the bank was taken the loss of 50Lakhs from the 1 Crore recoverable amount, when they transfer the loan amount to the ARC.

Now ARC sits across with the bank defaulter and negotiates for recovering this 50 Lakhs.

After a settlement is reached, often at an amount around another additional 50% lesser than the already bank discounted amount, that is around 25% of the amount that the wilful defaulter actually owes the bank.

Now look at the case below.

One if the greatest #BJP supporter and sponsor #SubhashChandra, the owner of Zee group business empire took massive loans from the #YesBank which now is called the JC Flowers YES Bank, with no intention to return back the amount.

After the "loan" became a "bad loan" in the bank records, at a Discounted value, the YES Bank transferred the "bad loan" amount of ₹ 6,500 Crores to an "Asset Reconstruction Company" (ARC).

This ARC gets into a deal by which the loan recoverable amount of ₹6,500 Crores is reduced to Rs. 1,500 Crores.
That is around 75% of the already discounted amount of ₹6,500 Crores is waived off.

Remember, this is a 100% legally OK process.

Look at the waived off amount of Rs. 5,000 Crores.

Who do you think it belongs to?

This is your money. Banks form capital throw deposits of hard earned money of salaried class and other businesses. The promoters /share holders funds also comes from the people.

As far as the JC Flowers Yes Bank is concerned, they have cleaned up their accounts books by transferring their bad loans to ARC. So, as per RBI, this bank has regained health and people can start depositing their gard earned money once again.

During the entire process, did you as a common man have any say at all?

It was your own money...

Is the Government complaining? No

Why? Because this fellow Subhash Chandra gives their party political support on his TV Channels ans money from Government treasury can be laundered through Advertisement revenues in the TV Channels accounts books. This again can come back to the party as electoral bonds or other kinds.