Finance

osmanabad-district-cooperative-bank

Extortion of inflated loans from farmers during #demonetisation

The Osmanabad District Cooperative Bank Ltd, has started sending notices to farmers with outstanding loans asking them to repay the loans or the bank would take socially humiliating measures against them. So far over 30 farmers in Nagur alone have received these notices; in the Lohara taluka, over 1000 farmers. The notices are dated 14th October 2016, however the farmers claim that they received them on the 23rd November 2016 (the notices are likely backdated, essentially rendering the one month notice meaningless). The farmers have been informed that unless the loans are repaid, they will begin to face recovery process in December.

Axis Bank’s Presses Panic Button Issues Threat Letter to RNA Exotica flat-buyers

Mumbai, 30th August, 2016: To recover its Rs 100 crore project loan to RNA Exotica before it becomes a bad debt like BOI’s loan and SBI’s loan, Axis Bank is pressing the panic-button and threatening flat-buyers to immediately pre-pay large amounts (like Rs 25-50 lakh), forgetting about slab-completion schedules. Axis Bank has recently written strangely worded letters to RNA’s …

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RNA Corp teaches Exotic Arithmetic to Axis Bank! “One-two-ka-four, four-two-ka-one, my name is Lakhan”

Media Release: RNA Corp teaches Exotic Arithmetic to Axis Bank! “One-two-ka-four, four-two-ka-one, my name is Lakhan” 22nd June, 2016: When builder Anil Aggarwal’s Skyline Construction Co approached Axis Bank for a project loan for RNA Exotica in 2011, the bankers forgot simple arithmetic. On two separate instances — in 2011 and in 2013 — Axis …

RNA Corp teaches Exotic Arithmetic to Axis Bank! “One-two-ka-four, four-two-ka-one, my name is Lakhan” Read More »