The Loot is Over

For many years Private and Foreign Banks looted the common Indian people by charging heavy interest in the name of unsecured loans. These rates were between 20% to 80% per annum.

They bought who ever came in their way and got laws enacted using spineless lawmakers.

But Now, the loot is over. RBI has fixed the upper ceiling on unsecured credit at 18% diminishing and calls anything over this usurious . Something we have been demanding since 2003. No wonder CitiFinancial is closing down its branches while IndiaBulls has quietly exited from the markets. There will more companies to follow. Surely when you can not loot you need to scoot!