Thursday, 2nd April, 2020


RBI instructs all the banks in India to get passport as collateral for granting more than Rs.500 crores as loans

25, Feb 2018 By RT
Mumbai. RBI has instructed all the banks in India to get passport of a customer as collateral for granting more than rupees 500 crores as loans, it is learnt by Faking News. If the loan amount exceeds a 1000 crores then the embassy of UK to be alerted immediately, it is further instructed by RBI to the banks.
“If RBI had introduced this rule about 10 years ago, then Punjab national bank would not have been in the news for wrong reasons. Now PNB is more famous across the country for poor banking and not banking for poor. We also have lunch hour and people like Nirav Modi are very smart. They walkin right after the lunch hour, when most of us are half asleep. Intoxicated by heavy lunch and not in sober mood, we sanction huge sums to these scamsters” a PNB official told Faking News.
“I am not a spy. But, I personally have 5 passports. Depositing a passport against a loan is not a problem at all. With my 5 passports, I can get as much as 4500 crores, applying for only 900 crores with a public sector bank. UK embassy would not have been alerted and media wouldn’t know any piece of this information as well. In most cases, even the bank’s top officials would not know about these loans sanctions. Meanwhile, I will apply for a fresh Tatkal passport saying I have lost the earlier one and within 3 days I can comfortably reach UK to play Ludo King with other billionaire defaulters” an eraser manufacturer and potential loan defaulter told Faking News.
“India has more loopholes in the law than the laws to penalise the guilty. Incidents after incidents, the Indian public turns out to be guilty for being unable to do anything about it. When the law makers often break the laws, or in some cases when their in-laws break the laws, when public sector banks operate for private parties and when CBI submits reports to suit the needs of the hour, RBI regulations will just be an added joke to the already existing comical banking system in India” another industrialist from the stationery sector told Faking News.
“Have you heard about a sword manufacturer getting 1000s of crores of loans? But, a pen maker can get 3000 crores in loans. Pen is mightier than the sword, isn’t it?” a top PNB official told Faking News when asked to comment on the recent breaking news on the illegal loan sanctions from the bank. For the RBI regulations, PNB to strictly implement it asking for self attested photo copies of passports, it is learnt by Faking News.