2% IMPERIAL BANK Rate Cut Is Rs.20 Lakh Cr Loss to India

March09, 2015 (C) Ravinder Singh ravinderinvent@gmail.com

It is most shocking that Rate Cut of just 2% by RBI which operates Worse Than IMPERIAL BANK serving interests of few Corporate would actually translate to well over Rs.20 lakh crores Loss people of India.

It also means Corporate India shall be able to Service Rs.60,00,000 Crore DEBT than Rs.50,00,000 Crores presently. Motivate them to DELAY PAYMENT OF DUES TO BANKS.

Corporate would CLAIM Rs.1 Lakh Crore More Annual Tax Concessions.

Corporate worth $2000 billion would not Create Intellectual Property shall not hire Engineers on R&D Programs.

They will pick up more Money From Banks meant to service 125 Crore Indians.

So immediately it shall dry up OPPORTUNITIES for 5m Indians Graduating annually from our Colleges for 4-5 years at least.

Instead of creating say 20m Jobs by MSMEs Corporate may create say 2-3 lakh jobs.

Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS

Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9718280435, 9650421857