Bank Scam Is Bigger Than All Scams

Ten times of money what Government has lost in Coal Scam or 2G Scam is likely to be lost in bank lending scam which is slowly and gradually coming to light. CBI, CVC and GOI all are moving very slow on exposure of ill-motivated lending undertaken by bank officials in nexus with top politicians of UPA government during last decade.

This is because big corporate houses are involved in bank scam and they are using their money power and political powers to delay the proceeding on bank scams at all levels.

RBI ordered forensic audit of United Bank, Central Bank, Indian Bank and many other banks but till date has not brought white papers on the findings of auditors and course of action they are planning to take or have taken till now.

Bigger banks like SBI or PNB or BOB may have bigger scams if some powerful body takes initiative to discover the same.

I am submitting below my Blog of October 2013 to refresh the views on bank scam.

It is astonishing that Prime Minister and PM office has confirmed that allocation of coal mines to Hindalco was fully and undoubtedly on  merit basis and strictly  as per the prevailing policy. They loudly and openly claim that Nothing wrong had occurred in allocation of coal mines to Hindalso or other corporate houses and the same has been asserted by Congress Party High Command and gang of ministers working under Prime Minister.

 But his Yesman Sri Salman Khursid in a bid to gain good , better and best  wishes from PM says that PM was not in a position to read all lines and all papers and documents before signing on allocation papers related to Hindalco or any other corporate allottees. It means he has tried to focus and prove that though the decision taken in favour of Hindalco was wrong ,PM in person  may not be held responsible for the same because it was not humanly possible for PM to read all lines before signing on the same.He justifies indirectly the action of CBI of filing FIR and thus trapping of Secretary Mr. Parekh and Kumar Mangalam whose images are as untarnished and unblemished as that of clever PM Manmohan Singh.

He , Mr. Salman Khurshid means to say that his PM’s secretary Mr. Parekh may be involved in conspiracy as alleged by CBI but his boss PM is innocent , PM should be exonerated and considered as honest and above board. he further says that PM only singed as a rubber stamp. Similarly when PM withholds any proposal or declines, he is misguided by Secretary or the proposal was recommended by state government or recommended by BJP. In his opinion or as per wishes of Congress Party ,PM and his ministers and his other colleagues are innocent, CBI may be wrong just as CAG was termed wrong in 2G scam.

If we take lessons from what Mr. Khurshid has tried to place logic in support of PM,  the Nation has to redefine the role and function of PM and that of cabinet working under him. Further In such position there is no need to select an educated and talented person for the post of PM and a lady like Rabri Devi may be selected as PM because he or she has not to apply his or her mind before taking any decision or signing any paper. He or she has to read the message as drafted by party high command.

But on the contrary when people of India praises any decision of the government or the volume of  growth , or so called rise in GDP or concocted fall in crime the credit must go to PM and his government.

Here I would like to submit one illustration of bank loans. Big amount of loans are sanctioned usually by a Regional Head or a Zonal Head or ED or CMD and only small amounts of  loans are sanctioned unilaterally by a Branch Head. 

When CMD or ED accepts some bribe or extraordinary gift in cash or in kind for him or for his friends and relatives, he will make a phone call to Zonal Head or Regional Head . As soon as phone call comes, entire work force in Regional Office and Branch become active and loan proposal is prepared in such a way that higher office sanctions the same without raising any eye brow or without asking for reply on any query. This happens in the same way when  party High Command or PM or nay ministers desire any work to be done or any contract work has to be allotted to any contractor.All rules and laws may be violated by subordinates when instruction orally pour in from top bosses . Juniors are always ready to honour all wrong or right orders in fear of action in way of transfer or rejection in promotion process.

If any Branch official or RO officials submits negative points of the proposals and incorporate some financial and factual reality which may cause hurdle in sanctioning, they are fired and threatened on phone to modify the proposal suitably and if some dare officer does not listen to their advice , he has to be hanged , he has to be transferred to the most critical remote place or he has to be rejected in promotion or he has to be trapped in any false and fabricated case in the same way as Mr. Khemka is being served one after other charge-sheet by Harayana Government. 

Similary ,on the contrary  if any CMD or ED or GM or DGM does not want to sanction a loan forwarded by RO or a Branch of a bank or when they do not get any personal gain from such sanction they will not hesitate in raising hundreds of queries which may not be replied by a simple Branch official without inviting any repercussion from top officials.You may term this culture as reign of terror or culture of flattery and bribery. But such thing happen usually in all offices and all government departments.

When above loan is sanctioned and after a year or two the same loan goes bad, the accountability and responsibility will be fixed on junior officers. CMD or ED who were fully instrumental in sanction of loan to bad person will be nowhere in blame list and will be awarded with several prices for loan growth in that bank. When high value loan is sanctioned , credit goes to top bosses for credit growth and when loan is declared as bad , subordinates are accused and punished . 

This is  small illustration of how high values loans and high value decisions are taken by top ministers and top officials in India and when it is proved that there was corrupt dealing , they will punish juniors or else say that if action is taken against such high profile persons , people will avoid taking any decision and country will suffer.Some of clever ministers are accusing CBI and expressing apprehension that if such FIRs are filed , people will not take any good decisions. 

If a scam master or an corrupt officers with ill motivated plan takes a bad decision he is termed as positive minded and creative minded and on the other if someone dares challenge ill-motivated decision , he is punished such as Khemka, or Arvind Kejriwal or Ramdeo or Balkrishna , a disciple of Ramdeo. If corrupt officers and ministers are accused and if court suggests action against them , our clever minister accuse even Apex court of indulging in Judicial activism.Entire system comes forward in support of corrupt officer and corrupt minister and on the contrary none dares speak if some honest officer like Khemka is punished for none of his fault.

I therefore not at all surprised by statement made by  Mr. Salman Khurshid in favour of PM or any supporting statement given by Manish Tiwari or other spokesman of Congress Party.

The deep rooted flattery and bribery culture has place for corruption and corrupt officials and corrupt ministers only.

It is possible only in India that a secretary is accused of conspiracy in coal allocation case related to Hindlaco but the PM who verbally and through his sign approved the decision is considered as innocent .

I hereby do not mean to blame PM or any other person, neither I mean to declare any person innocent without an honest investigation by investigating agency or police or by court  , but I feel government should not interfere in the course of action taken by any court or CBI , if at all they want to save the country from the clutches of criminal and corrupt officers and ministers.Law is same for all , same for PM and that for his secretary, same for CMD of a bank and that for his junior officers.

Lastly it may be true that coal allocation was done in the overall interest of  the country without any malicious intention,then in such case ,  if PM or PMO feel that PM is innocent in coal scam, they should openly say that CBI is wrong , Supreme Court is wrong in ordering investigation in coal allocation files , Congress Party spokesmen should say openly and admit that PM's secretary Mr. Parekh is blameless and FIR filed by CBI against Mr. Parekh and Mr. Kumarmangalam is ill-motivated and wrong from all angle of consideration.