India Gives 1.3% of GDP in Free Cash to Banks

Bitcoin Forks or Bailouts? India Gives 1.3% of GDP in Free Cash to Banks.

http://google.com/newsstand/s/CBIwqNL_tzY

32 billion dollars.

Although the price of living in India is lower than say the United States, rage on average and Indian has an annual income of $1,500. There are about 1.3 billion Indians. That means $24 from every man woman and child in India is paid through taxes to this Bank that is failing. That is 5 days of every person's working wages being paid to this Bank and this is not interest and this is not "earned" from its business. This is welfare for the bank.

The same money injected into the general population would go to school fees and help upgrade and start businesses. Money would naturally be concentrated in the businesses that serve the market the best.