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Tajammul Hussain

The Credit Squeeze (or Scam)

Anyone darkening the doorstep of a financial institution nowadays looking for credit is usually informed that the “ceiling” has “burst” meaning that the bank’s lending limit has been exceeded. In the case of foreign banks who have limited credit ceilings and blue-chip corporate clients, this is an understandable reply, the response of the nationalised banks becomes intelligible only when you begin to understand the deep-rooted nepotism and cronyism practiced in the higher echelons of these financial institutions.

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