On the one hand government is
talking of more and more private banks and giving more and more freedom to
public sector banks so that they can function better. On the other banks are
made so much sick by learned Finance Minister through his dirty politics and
through his ill-motivated verbal orders that these banks are constrained to
issue more and more shares to Government and thus increasing shareholding of
the government. Every laymen and every common bank employee knows very well
that due to large scale intervention and interference by Ministry of Finance in
particular and by politicians in general, the health of bank in government
sector has gone from bad to worse.
There is a saying in Hindi that
‘SauChuhe Mar Kar Billi Haz ko chali”
Our Finance Ministers is very much
clever and hence he has pointed his accusing finger towards bank management for
rise in bad debts. He says that there is cozy relationship between bank
executives and corporate houses. He does not like to say that it is he
who appoints only those officers as Executive Director (ED) or Government
nominee in boards of Banks or Chairman and Managing Director (CMD) of a bank
who are ready to act as puppet and who can manage precious gifts.As such if
these bank executives are having dirty relationship with corporate houses
, why he as powerful Finance Minister prefers remaining silent spectator of
such dirty game going for in government banks for decades and why is he still
sleeping and not taking action against erring officials.
As a matter of fact, Top ranked
officers of a bank cannot dream of post of ED or CMD of a bank until he is
perfect Yesman of politicians and ministers sacrificing interest of the bank.
And if ED and CMD are appointed on the basis of flattery and bribery, it is but
certain and sure that they will teach the same culture in their respect banks.
And when birds of same feather are sitting at top posts , there is none
to safeguard bank’s interest .
The most painful is that even when
bank’s health is poor, business growth is less and Net interest margin of
almost public sector banks is getting thinner and thinner , our clever FM will
advise banks verbally to reduce interest rate on loans, he will advise banks
for more and more lending to farmers at low rate, he will ask for opening more
and more branches for Financial Inclusion without adding manpower, he
will ask for restructuring of bad loans to favour corporate houses, he will
suggest waiver of loans for gain in vote shares, he will ask for ATM at every
nook and corner of the country without caring for profitability, he will make a
phone call for sanction of loans to his kith and kin , his friends and
relatives and his political colleagues, he will recommend a team of Chartered
Accountant for conduct of various audit , and so on-----------------
It may be possible that FM acts
directly or all through his middlemen or his Personal assistants or his
political supporters……but flatterer Chief of the bank normally waste no time in
carrying out his verbal orders and doing his best to please the minister not
the bank he or she serves. This is the most painful story of verbal
instructions and it is most surprising that the FM is now putting blame on
bankers.
To add fuel to fire Indian Bank
Association (IBA) advises banks to ensure that no verbal orders are given by
top officials and no verbal orders are put into actions by field functionaries.
Is it not a complete nonsensical and bakwas statement made by IBA?
Does the IBA think that bad debts in
these banks have gone up by written instruction of chief of any bank?
Or does IBA thinks that by mere
issuance of circular for stopping of verbal orders will be able to stop culture
of verbal orders?
The irony is that IBA is not a
recognized and legal body. It is simply a club of Chief of various banks who
are more or less birds of same feather.
CMD and ED who are Master in giving verbal orders and who are master is acting on verbal orders of ministers and secretaries of Minister for their self interest cannot ask others to disobey verbal orders and cannot digest if any officer dare ask him for written instructions.
Neither officers at down the level are so much courageous to insist for written order and avoid action on verbal orders of top executives nor will any of top officials ever tolerate any non-execution of their verbal or telephonic orders by juniors.
It is easy to preach the sermons but
difficult to practice them. Obviously dictates of IBA will have no impact on
field level. IBA is made of CMD of banks and hence they are firing in the air
to gain the sympathy of their mentor ministers. They are least
bothered of safety and security of bank, bank staff, bank customers
and share holders of the bank. They are of course good actors, good speakers,
good motivators but all for self interest. This is why private banks perform
better than public sector banks under same economic, political, legal and
social environment.
Now story
of verbal orders which is long and unending in India
If CBI or any other
honest investigating agency carry out the history of top 100
defaulters of any public sector bank it will be crystal clear
that majority of such high value bad loans were sanctioned after verbal
recommendation of some ministers.
If CBI
investigation is allowed to peep into promotion process of any PS bank, it will
be clear that majority of officers were promoted from one scale to other only
due to verbal recommendation of some Very Important persons.
If honest inquiry
is made by CBI on all closed cases of corruption and
irregularities leveled against senior officers during last en years
or more it will be proved that officers with serious charges were exonerated
and promoted only after verbal orders from some VIP of this country.
Harayana
Government issued one after other charge sheet to senior IAS officer Mr. Ashok
Khemka on flimsy ground and on failures which occurred years
ago only after getting verbal instruction from central ministers.
Arvind Kejriwal
had to refund eight lac of rupees after lapse of many years when he led
movement against corrupt government and this happened only when
IT officials got verbal orders from their mentor ministers.
83 cases have been
filed against Ramdeo by various departments of the country only after getting
verbal orders from Ministers ruling the country. Ramdeo Baba who taught Yoga to
crores of people all over the world and who cured the sickness of crores of ill
persons should have been honoured with Bharat Ratna but unfortunately he has
been trapped in various cases only because he refused to abide by verbal
instructions of ministers.
All departments
working under central government acted spontaneously after getting verbal
orders only from central government, otherwise they could have acted long ago
if there was really any true case of violation of law. It is only when his
crusade against black money became popular and the government was facing crisis
of collapse, they gave verbal orders to all to tight the screw on Ramdeo and
his all activities. They did not spare even his pupil Sri Balkrishna who was
jailed after 12 years of issuance of passport for submitting allegedly false
matric certificate for getting passport.
This is India
where on verbal orders from some powerful persons , innocent people are jailed
and criminals are acquitted and exonerated. This is India where lacs of
prisoners are languishing in jails for years together without even facing
trial.
Hundreds of verbal
orders are issued every day by powerful officers in office they work. Can
anyone stop such unhealthy practice which is imbibed in blodd from the day of
birth ?
Majority of coal mines allotted were on the basis of verbal orders of some powerful persons and which has ultimately resulted in coal scam. Similar is the history behind 2G scam and CWG scam. Prime Minister of FM or any other minister who recommend for any job for any VIP , they do so by verbal orders only. This is why they are never trapped and they are seldom punished.
Majority of coal mines allotted were on the basis of verbal orders of some powerful persons and which has ultimately resulted in coal scam. Similar is the history behind 2G scam and CWG scam. Prime Minister of FM or any other minister who recommend for any job for any VIP , they do so by verbal orders only. This is why they are never trapped and they are seldom punished.
And so on …………………………………
FM was unhappy with RBI Governor Mr. G. Suba Rao and is unhappy even with present RBI Governor Mr. Rajan and giving all verbal orders to change the contents of RBI monetary policy and if they refuse to succup under pressure tactics they may be taught lesson in different way.
No comments:
Post a Comment