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SIT is needed to investigate frauds in PS Banks in Recruitment, Promotion and Postings in last two decades

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Danendra Jain


Indian economy is said to be rated as best economy in the world after China and is said to be decoupled with impacts of global recession.    During last twenty years, reputed economists like Mr. Manmohan Singh, Mr. Montek Singh Ahulwalia, Mr. Pranab Mukherjee , Mr. Bimal Jalan and Mr. P Chidambram have framed best economic policies in the name of reformation , privatization, liberalization and globalization .   However, India  still remains backward and facing severe crisis on financial front.

Similarly banks are managed by talented officials selected through merit channel and picked through best educational institutes and still Chief Executives of public sector banks and RBI considers that banks are  critically sick and due to growing inherent weakness public sector banks are being downgraded by rating agencies and also by unbiased bankers.

Is it the failure of Policy or is it fraud in selection of person for key posts which is responsible for current fiscal crisis and growing volume of bad assets in public sector banks.

Intelligent persons are managing banks and managing economy of the country and still both are treated as weak  and sick.  Why?  Either persons are at fault or the policies are wrong.

I can say with full confidence that policies framed in our country has always been the best but the people who were assigned the duty of execution of the same played fraudulent game with policies to twist the spirit of the policy as per their whims and fancies to serve their vested interest and convert the policies into a money making machine.

People invariably or more often than not misuse the power when they are vested with unchallenged powers.  Weak judiciary has empowered them more than what there were empowered by the system. In this process top officials use to give  weightage to only those who are master in flattery and bribery and who can fill the pocket of their mentors honestly by their ill earned money.



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In such dirty system manned by dirty persons, it is always possible and not astonishing  that  a culture of flattery and bribery is developed in all offices and only those who has developed expertise in this art are only elevated to higher post and awarded with cream posting. On the other hand, officers who do not toe the line of bosses and are bent upon sticking to their principles of ideals , honesty and devotion to performance are cleverly sidelined. Such whimsical activities of top bosses  ultimately promote flattery and bribery culture.

This is why I have been consistently advocating that drastic changes in Human Resource Policies are needed . It is necessary to eliminate maximum portion of delegation so that none of top officials can twist the policies for their self interest. Promotion based absolutely on seniority and punishing those who do not perform as per expectation in perfect Transparent way may play an effective role in reduction and elimination of  of the culture of flattery and bribery in due course.



I therefore reiterate that policies are seldom faulty ,it is the people who are at fault in most of the cases. It is also  undoubtedly true that these clever people are not  innocent, though they always  blame others and global recession for their failure.

Will Government now carry out introspection and institute Special Investigation Team to know the bitter truth , to know the reason for growing sickness, for insurmountable corruption ,for relentless price rise , for inflation going beyond control and for bad assets rising continuously despite several so called corrective steps taken by regulating and controlling agencies.

Most of members of Team Anna or that of Ramdeo followers of some well wishers demand SIT to look into financial fraud allegedly committed by minister but I demand SIT to investigate various  frauds committed by banks, insurance companies ,public sector undertakings and government departments in recruitment, promotion and posting during last two decades.



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