Saturday, January 1, 2011

Bank Union India State

Central Government is allowing time bound promotion and seniority based promotion to staff. Why Public Sector Banks banks are allowing whimsical promotion, arbitrary transfer and fresh recruitment in higher cadres bypassing existing staff of experience of ten to thirty years in banking. Who is accountable for bribe based recruitment and bribe based promotions taking place in banking industry? Why public petitions pertaining to corruption, injustice in wage revision and posting of corrupt ED and CMD in banks submitted to Prime Minister and Finance Ministers are ignored?
India has vast experience of mismanagement in banks like Indian Bank, Global Trust Bank and several cooperative banks and Regional Rural banks. Indian banks have caused huge loss to common men who trusted banks and invested their hard earned money in banks for growth.
Why bank executives who have earned illegal money and accumulated wealth by lending to bad borrowers or writing off their dues are getting one after other promotion and cream posting. Why government is unable to control growing NPA in banks and punish those bank officers whose ill motivated lending and ill motivated management of human resources resulted in increase in NPA.

Banks are entrusted with job of handling with public money. Is it desirable that they are given total freedom to lend money to bad borrowers for their self interest and cause loss to bank?

Who is accountable for lacs of crores of rupees locked and blocked in Non Performing Assets in banks?
Why in the name of competition PSU banks are allowed to indulge in unhealthy practice and cause loss to banks? Who is responsible, accountable and punishable for increasing quantum of bad assets and increasing frustration and indifference among bank officers in banks?

Will government come to senses only after incurring loss in billion and billion of rupees as in 2G spectrum scam?

Who is responsible for bad culture in banks?

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