Posted by: SajhaLawyer April 13, 2008
Why I love communism !!!
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I think some people here do not understand what does nationalization of Banks mean. It is not bad idea. In Nepal also, as one of the means to financial reforms, government can do nationalization of Bank, not only bank but of any property by offering a fair compensation to the party from whom the property is taken. Such property acquired from a private party should be used for Public interests and in legal understanding it is called 'Eminent Domain of State'. It is not uncommon practice around the world.

Now, the Banks are not nationalized to distribute the money deposited to it. Like in India, Banks were nationalised to ease the flow of loans to agricultural sector as the study found that Banks were giving Loans only to Corporate Sector. It was not for any distribution and it can not be anywhere.
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