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2 stories to loose your afternoon sleep.
Narayanan Vaghul, described as Bhismah Pitamaha of Indian Banking has written a memoir, aptly named "Reflections"
2 stories...
1 An extreme example of the nexus between politicians and industrialists was the removal of RK Talwar as
Narayanan Vaghul, described as Bhismah Pitamaha of Indian Banking has written a memoir, aptly named "Reflections"
2 stories...
1 An extreme example of the nexus between politicians and industrialists was the removal of RK Talwar as
State Bank of India chairman, when Talwar refused to entertain a cement company’s request for loan on grounds of mismanagement, little did he know that the industrialist concerned was a friend of Sanjay Gandhi.
The latter asked the minister of state for finance to make sure
The latter asked the minister of state for finance to make sure
that the loan was granted immediately. But Talwar refused. Gandhi ordered Talwar’s sacking, but there was one problem—under the State Bank of India Act, the chairman could not be removed before the expiry of the term of his office unless they were proven guilty of misconduct.
Upon being told about the clause in the Act, Gandhi ordered amendment of the Act! The amendments were passed during Emergency and Talwar was finally removed.
The most hilarious (though unfortunate) incident involves the visit of an Estimates Committee of Parliament to Mumbai.
The most hilarious (though unfortunate) incident involves the visit of an Estimates Committee of Parliament to Mumbai.
As chairman of Bank of India, Vaghul was supposed to be the host of the delegation, led by Bansilal. What followed thereafter is simply unbelievable. Vaghul got directions from the Parliament Secretariat regarding the protocols to be observed.
What stood out was that while
What stood out was that while
all MPs were to be put up at the Oberoi hotel, Vaghul was supposed to get a no-vacancy certificate from the local hostel for MLAs, where MPs were usually expected to stay.
The instructions emphasised that Bansilal was accustomed to only using Indian toilets, and that The Oberoi
The instructions emphasised that Bansilal was accustomed to only using Indian toilets, and that The Oberoi
should be instructed to provide one accordingly. Vaghul had to make a special request to the G M of the hotel to provide an Indian toilet in Bansilal’s suite. This meant that Bank of India had to foot the bill for demolition of the western toilet and install an Indian one.
The absurdity didn’t end there. When Vaghul received the delegation at the airport, Bansilal, surrounded by Congress supporters, asked him, “Where am I staying?” On being told that it’s the Oberoi, he lost his temper and started shouting at the top of his voice as to why
public money was being wasted and why wasn’t he put up at the MLA hostel. A confused Vaghul didn’t know how to react. During the drive to the hotel, Bansilal noticed his glum face and asked him not to worry as his outbursts were only for public consumption as he couldn’t afford
to lose his image. This one anecdote shows political hypocrisy at its worst.
Just 2 stories how Congress over the years has used US and OUR MONEY.
#NarayananVaghul
#Reflections
#VANDEMATARAM
Just 2 stories how Congress over the years has used US and OUR MONEY.
#NarayananVaghul
#Reflections
#VANDEMATARAM
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