It has been reported several times to RBI, Banking Division, IBA, Finance Minister, Prime Minister in particular and Government of India in general that chief of public sector banks are not making provisions for towards pension and gratuity payable to their retiring and retired employees .There are instances when management of some banks have not even contributed and deposited their contribution equivalent to PF contribution recovered from their employees , either PF optees or for Pension optees. Unfortunately government and all responsible authorities have thought it fit to turn blind their blind eyes and deaf ears towards all factual reporting made by expert and true bankers.Even bad assets are certified as good assets in collusion with team of Chartered Accountants.
It is ironical that whenever poor health of any bank is exposed, misdeeds of top ranked officers are exposed , lack of monitoring and non fixing of staff accountability come to picture the stalwarts of banks put the onus of ill health of bank on global recession, inflation, or rise in interest rate. They never try to accept the real reason of malady rampant in banking industry. Culture of flattery and bribery, practice of pick and choose policy in promotion and posting are the root cause of growing sickness in public sector banks. Incompetent and inefficient judiciary add fuel to fire ,fail to protect the respect and dignity of good and devoted officers and ultimately fail to prevent corrupt officers getting elevation year after even though they are the master of corruption.
This is why the burden hidden below the face of balance sheet ballooned to uncontrollable position and now getting punctured in gradual way. Due to vested interest of top ranked official and corrupt chief of various banks health f banks has suffered continuous erosion. When chief of SBI got retired the misdeeds of that bank came out. Similarly when chief of other banks who committed large scale fraud with the system are revealed only when they get retirement or they are transferred to other banks
In the same way bribe led lending done by corrupt top officials by giving verbal and telephonic advice to field functionaries is not declared bad assets even if the same is bad as long as the concerned top ranked officer of that bank is given a safe exit or some junior rank officers are made scapegoat or the files are closed.