In Parliament & TV and Social Media, Economic experts observed high fiscal & current account deficit had send rupee & stock market trembling. Though some expert laid blame on Modi's 15th August speech & some said it was all due to BJP, while few indicated Governments inaction & policy paralysis for falling rupee value & stock market index. What so even may be the reason, Nation was worried. Amid noise, opposite parties feared that perhaps 1991 situation would be back soon where Government had to pledge Gold to save the situation. It was heard that Sh. Anand Sharma, Commerce & Industry Minister, floated an out-of-box idea to help to contain the widening current account deficit(CAD) by monetising 500 tonnes of Gold at the current value. It stared high speculation.
As the news was electrifying, The NGO Reporter stared its own investigation. A flying bird informed us that Suthoot Gold Finance Company has offered loan to government against gold at very attractive terms. When we contacted their corporate office to to confer this news, they neither confirmed not denied. On the condition anonymity, their VP confirmed the news unofficially. While extending cup of tea to this reporter, the VP disclosed further that by their timely offer, India will not face same humiliation as they faced in 1991. Hence their offer is very much Nationalist. Moreover their rate of interest are lower than IMF. Plus Gold would remain in the country, of course in Suthoot Finance Company Safe Vaults.
When this reporter asked that do they have such huge vault to keep gold safe, the VP smiled & said that currently they don't have one but as soon as government sends its confirmation, they will apply a long term loan of 50 lakhs from Government to finance a suitable vault for gold.
Government side has yet to confirm the news.
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Disclaimer: This post is just Satire on current situation. There is no such news. Readers are requested not to take this new as real new by an underrstandiing the there is a very thin line between Real News, Fake News & Satire News. Thanks
Pradeep Shanker
(NGO Reporter)
Good satire! But the final touch would have been if they sought loan from Government itself by pledging the public gold with them! That would be end of story!
ReplyDeleteCool Good suggestion
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