Thread by @srinicaps

#PMCBank is just another chapter in Banking frauds across many countries , every few years investors get duped irrespective of such fabulous efforts by thinkers to guide the citizens ,

why it happens again ?
Customers are moved by the persuasion, friendly neighbourhood system,

one to one approach, working staff themselves are not aware what’s happening in the top deck , it’s a 9 to 5 job finally, Govt has kept information, technology and infrastructure away from the working class to a very good limit and hence the awareness is very limited

to bank with a clean and clear institution
Many current accounts are opened with large amounts at any given time because of OD , credit facilities, etc
It’s very important to educate the working class and daily wagers to be very responsible to bank only with decent and graded

institutions , this are mostly people who cannot even communicate in English properly and find it difficult to interact in middle of some high nosed upper middle class citizens at a large bank
Social discrimination has a large role to play in such services and inferiority complex

keeps many away from moving with large educated crowd.
Govt has to work hard to save the working class from losing their hard earned money
Senior citizens neglected by sons and daughters or in the absence of both in their lives are prey to such banks who cheat them with fancy

interest rates. Frauds will always be at work , it’s the citizens who have to be careful and Govt who has to help the citizens
Social unrest gives rise to frauds in the banking system
Hope the authorities learn and understand this issue at the earliest
@pvsubramanyam

@suchetadalal
@BalakrishnanR
@RBI
@PMOIndia
@narendramodi
@threadreaderapp
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