• Branch managers of PSU bankssanction loans by getting money. Theysanction big amount loans in the nameof another family member of a personwho has already taken a loan from thebank and is a defaulter of the bank.The managers adjust with them to paythe earlier loan from the fresh loan sothat they can show the recovery.Branch managers are making moneyRs (3 to 5 lakh per month) from commission.That's why the NPAs of thebanks are increasing day by day.
• In the RBI the senior brass havetremendous financial powers which theyare misusing. They spend public moneylike water in the name of entertainmentand financial outreach programme. Officersgo here and there for financial outreach/meetings, stay in five-star hotels,and enjoy the time at the expense of publicmoney with their families.
• Executive Director (below board levelofficer-lower than a Joint Secretary ofthe GOI) level officers of the RBI enjoythe status of State Guest which is authorizedto a Cabinet Minister and aVVIP only. State Governments declareRBI officers state guests for gettingfunds. They misuse the State Governmentmachinery for weeks and stay infive-star hotels. Most of the RBI officers,who used to drink Rum from their ownpocket, now drink complimentaryScotch in the name of entertainmentfund. Most of the officers demand thatthey should be declared as State guests,which they are not authorized as per thelaw. They press the junior officers to getthem declared as State guests so thatthey can misuse police escort. They alsomisuse the security officers and otherofficers of the bank in the name of protocolfor carrying their luggage. Seniormanagement officers of RBI/PSUbanks do not bother about the securityof the public and public money i.e chestand vaults. They only bother aboutthemselves. The quality of these chestsand vaults is very inferior.
• Senior officers in a bank desire thatthe security officer should accompanythem like his personal security guard.Security officers those who joined thebank service much earlier than these officersas commissioned officers are compelledto accompany them like securityguards.
• After serving the nation on the front inextremely hard situations, ex-commissionedofficers of our elite Armed Forcesare now checking the toilet of other officialsin the banks in the name of maintenance,which is the work of engineeringdepartment. It is their bad luck that theydo not get permanent commission in theforces and now they are compelled to dothe nonsense.
• There are one Central Board andthree other local boards of the RBI.Meetings of these boards are arrangedat different tourist places for the enjoymentof the members with publicmoney. These meetings can bearranged at a central point and publicmoney can be saved.
• Most of the RBI/bank offices do notfollow CVC instructions while issuingtenders.
• Lot of red-tapism is there due towhich the pace of work is very slow.Government policies are not implementedthere properly.
• The promotion and transfer policy ofthe Reserve Bank of India and otherPSU banks is not transparent. Thoughbanks are PSUs under the Governmentof India, they do not follow policies/ instructionson promotion and transferwhich are more transparent. A personhaving approach/links with senior officerscan manage his promotion.
• Bankers compare themselves withIAS/IPS officers, since the latter enjoy authoritydue to which corruption has beenincreasing in the banks/RBI day by day.
• There is no system of Audit (External)by the Auditor and AccountantGeneral Office. Internal audit is only aformality for wasting public money on
SUGGESTIONSThere is urgent need to implement the followingpoints:-• All accounts of RBI offices should be properly audited by inspector auditorsof the Auditor and Accountant General Office. • There should be an independent Banking Security and Vigilance Bureau(BSVB) funded by the RBI. The bureau should include the existingsecurity officers of the RBI and officers on deputation from theCPO/State Police/ Armed Forces headed by an officer of Lt Gen /Directorof Police rank who is directly answerable to the Government ofIndia operationally on the pattern of the BCAS/CBI. • The BSVB should have powers to investigate frauds and vigilance mattersand to instruct/advise them on security matters. • There should be a Banks Security Force for the security of the publicand public money in the banks on the pattern of CISF on a paymentbasis funded by the banking industry under the operational controlof the Banking Security and Vigilance Bureau. • The existing security officers of the PSU banks should be given authorityto investigate frauds, security and vigilance matters in banks anddirectly report to the top management and the Banking Security andVigilance Bureau. |
