The Punjab and Maharashtra Cooperative Bank (PMC) fiasco is an indicator of the impending economic catastrophe. PMC is on verge of bankruptcy due to it lending 2,500 crore to real estate company HDIL, which went bancrupt pulling the bank down with it.
If any sector has been affected most in four years of Modi government definitely it is the economy. Courtesy Modi and his finance minister Arun Jaitley, today there has been a perceptible decline in every sector of the economy. From Manufacturing to service and from joblessness to jobless growth. The impending economic catastrophe is now round the corner, but like Nero the rulers are engrossed in rewriting history and patting themselves for their own work.