This refers to the article, “Cronyism has had a merry time” (March 28) by Sandeep Bamzai. Banks and financial institutions are the ones responsible for the steep rise in the non-performing assets. They have failed to recover loans from many corporates and business honchos. One vital lapse is that the assets of the borrowers were not well assessed and their value during the payment of loan was not well determined.
Rich businessmen and corporate entities must not escape while looting the deposits of the people. While poor farmers in this country are committing suicide for non-payment of loans, the rich are unpunished for wilful defaults.