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How could Rs.640
crore be deposited in cash
by
Danendra Jain
Ganaraj Choumuhani
Agartala
This refers to news item that Madhu Koda men deposited Rs.640 crores in
cash in a PSU bank violating the norms and guidelines set by RBI with
respect to acceptance of deposit n cash and opening of new accounts. As per
Anti Money Laundering Act every bank branch has to report RBI if cash
transaction taking place in any day is more than Rs.10.00 lacs. It means the
deposit of Rs.640 crores taken place in a bank must come to the notice of
CMD of that bank and also top bosses of RBI and Ministry of Finance. But
none of the responsible officer took pain to look into such a big
transaction taking place in a bank’s branch. None thought it fit to look
into reason behind abnormal spurt in deposit of a bank branch. All reports
received in a controlling office are either filed to ignored willfully to
gain false image .
Bank Manager can do anything to get deposit because Bank management gives
value to those officers who are expert in mobilizing deposit even through
ill means. There are hundreds of Managers who indulge in reckless financing
in the name of achievement of target with hidden agenda of earning money for
self and paying bribe to fetch deposit from government departments or
various cash rich person or corporates.
One CMD spoilt Indian Bank to such a large extent that it took ten years for
the bank to restore its old good image. As long as the corrupt CMD was in
power none had the courage to protest his ill-motive work culture and ill
motivated promotions and transfers ordered by him. As long as Madhu Koda was
a Minister in the government headed by Arjun Munda CM of Jharkhand and as
long as Madhu Koda himself was CM of Jharkhand from 2006 to 2008 none of IAS
or IPS officer or even ministers in central government had the courage to
protest and stop the corrupt practices of Mr. Koda. Even Naxalites were
given the assistance of fund of Rs.1000 crore by Head of the government and
none in banking industry could notice the illegal transaction, not to speak
of nipping in the bud. None in Income Tax department or any Law enforcing
agency could notice the illegal financial transaction taking place at the
instance of Madhu Koda. Hundreds of bikes and cars were distributed by Madhu
Koda men and none could doubt the motive behind such charity. This is
possible under the umbrella of central government headed by the honest and
clean Prime Minister Mr. Manmohan Singh. It is not out of place to mention
here that it was UPA whose support could make it possible to make Madhu Koda,
chief Minister of Jharkhand. It was Lalu Yadav, the scam master who
wholeheartedly supported Madhu Koda, an independent MLA to take charge of
the state just with the ill motive of keeping BJP out of power.
Everyone worship the person who is in power and the one who dares to utter a
single word against the head of the government or head of the department he
is to face the toughest posting and such anti boss person can never
visualize any promotion or good posting in his career. Every bank in fact in
indulged in malpractices in garnering deposits and extending credits to
traders .And it is a bitter truth that every banker sitting at the top of
affairs knows very well the ground reality of transactions taking place in a
bank and understands the pitiable real health of a bank .But who will bell
the cat when Ministers and government also promotes and irrigates such bad
culture.
This is why banking is sitting on explosive of Non Performing assets and
gaining name by mobilizing deposit, it may be from anti nationals or even
from terrorists. All circulars or guidelines from RBI are nothing but
sermons to be preached and kept in files. Even RBI top brasses are happy
when a CMD flatter and say yes to every idea mooted by RBI officers.
Ministers are happy only when a CMD implements all his policies, ideas and
make finances to oral instructions given by FM or his colleagues.
This is why one after other exposure takes place, media makes clamour,
committees are formed and finally matter is forgotten. Nothing happens to a
person who commits mistakes willingly and nothing happens to those who
indirectly support the ill-motivated actions of the corrupt person. As long
as we change the culture of flattery and yesmanism, our country cannot dream
of execution of any good policy. As long as criminals are getting respect
and love from the society honest and talent person cannot come forward to
save the country from the hands of corrupt persons.
“Barbad Gulista karne ko ek hi ullu kaphi tha
Anjame Gulista kya hoga jab har sakh par ullu baithe hai.”
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