PNB Fraud Rs.11,300cr+ (volume-II)

In continuation to our yesterday's post in our Facebook page NPAhelpline covering the compelling circumstances where Junior and senior officers in the Banks are taken as a scapegoat by the top grade officers, which allowed the Scams like Rs.11,300cr + in Punjab National Bank to happen; we have received readers active response to our post. 

The fraud will necessarily weaken the financial base of PNB as effected by level of NPA accounts (non-performing assets).

To reply that response collectively we further elaborate the matter. All Intellectuals, be an active part of the discussion. When Congress failed to deliver on this count people voted BJP to achieve this, but nothing has, so far, been accomplished on this front.

The top officers in Banks too are working like bureaucrats.   I noticed the cases,  where the complaint was made even to the highest levels of CVC, was shrewdly shielded by the Departmental Colleagues of Top Grade Banking Officials,  by circumventing approach in the matter.

The RTI Act too is ineffective, so far it fails to lay down criminal action against the public servants who fail or circumvent to provide the requisite information under exterior motives.

Why they can do like this... simply because the law makers have failed to provide teeth to the law, perhaps they don't want to empower the people.

If you want to fight corruption, make efficient laws to empower the people first.

The public servants would not be allowed to become authoritative authorities. Since they are getting salary from public money.. the law must force them to remain as a servant of the people.

Shakti Kumar Jain
Ex-Officer State Bank of India
presently: Banking Law & NPA Resolution Consultant
NPA HElpline for Banks
https://npa.co.in