Ok, let's talk about the SOP of big bank frauds.
During Emergency period, Shri R K Talwar was the Chairman of SBI. He received a loan proposal which was not viable. Contemporary PM Mrs. Indira Gandhi called the Chairman and asked him to sanction the big budget loan.
During Emergency period, Shri R K Talwar was the Chairman of SBI. He received a loan proposal which was not viable. Contemporary PM Mrs. Indira Gandhi called the Chairman and asked him to sanction the big budget loan.
https://twitter.com/dharma_shastr/status/1447128173989163013
Being a man of integrity, Shri Talwar refused. He was removed immediately, a puppet was posted as SBI Chairman who willingly obeyed the dictator. Now, if that loan goes bad, whose fault is it? Will you still blame the banker?
Apparently, in every sector and organization you can find people who will do anything for a favor. You cannot expect everyone in the banking sector to have full integrity. In a democracy, everyone has a boss. Even for the top most banker, there is a political boss.
If that political boss decides to do a fraud, there is no way for a banker to stop it.
In the case of ADM Jabalpur vs Shivkant Shukla (1976) in the Hon'ble SC, a Constitutional Bench of five top most SC judges was set up to decide fate of Art 21 (Right to Life and Liberty).
In the case of ADM Jabalpur vs Shivkant Shukla (1976) in the Hon'ble SC, a Constitutional Bench of five top most SC judges was set up to decide fate of Art 21 (Right to Life and Liberty).
Among the five judges, only Justice H R Khanna (who was next in line to become CJI after the incumbent Justice A N Ray), came up with the decision that Right to Life and Liberty cannot be curtailed even during the Emergency, while the other 4 sided with the government.
The inevitable happened and Justice HR Khanna was superseded by his Junior Justice H Beg. Now, will you blame the entire judiciary for this faulty judgement? Who is to be blamed here?
You do understand the fact that,
1. it's the big frauds which affect the health of the bank financial system.
2. Big loans are sanctioned only by the top most officers in the bank.
3. The top most appointments in the banks are decided by the government.
1. it's the big frauds which affect the health of the bank financial system.
2. Big loans are sanctioned only by the top most officers in the bank.
3. The top most appointments in the banks are decided by the government.
Now, if the government decides that a fraud is to take place, is there anyone in the bank who can stop the government?
If you think that it's still the fault of the bank and not the government, you are mistaken sir.
If you think that it's still the fault of the bank and not the government, you are mistaken sir.
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