Kochi:
Indian banks have come a long way from being an affluent-people oriented organisation to becoming the public's property, Union Minister of State for Consumer Affairs K V Thomas said.
He was speaking at a ceremony organised to give the Banker of the Year Award 2010-2011 to industrialist Ravi Pillai at the Taj Residency on Saturday.
"The consortium of banks is aiding farmers in a large way. The consortium is assisting thousands of youngsters throughout the country to undertake higher education," the minister said.
But, unfortunately, people are not showing the responsibility to repay the loans availed of by them. The Central and state governments have been writing off loans. This has encouraged people not to repay the loans, he said.
Naming industrialist Ravi Pillai as 'the ambassador of Kerala abroad,' the Minister said Pillai has been a benefactor for at least 50,000 Malayalis, especially in the Gulf regions.