Banks riddled with corruption oppress poor farmers, middle-class people: Saamana

The Shiv Sena on Saturday claimed that the "banks which are riddled with corruption" oppressed the poor farmers and middle-class people in the country with their "unrealistic" norms and rules.

The Shiv Sena also slammed the banks for allegedly providing huge amount of loans to industrialists, who often default it, at easy terms.

Shiv Sena in its editorial piece Saamna said, "While unemployed youths who approach banks for loans to start their own business are denied loan by asking them to deposit guarantee which they fail to do. But the industrialists get the loans on easy terms."

Citing the recent report by the RBI, the party said that "loot" is rampant by the banks and the cases of corruption have witnessed a spike in the country.

"The banks lay the red carpet for the big industrialists who are known for defaulting loans. The bank officials provide them with a loan at their doorstep with a token amount of few crores, they are sanctioned loans worth thousand crores and are made richer," it added.

The Shiv Sena further said that despite the recession that galore the economic sectors, the banks have not amended their ways rather the scams have increased.

"Even in this scenario when industry and business are facing recession and jobs are not there, the rate of scams in banks have increased. This is worrisome on the economic front," the editorial piece reads.