Friday, June 18, 2021
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Vested interests damaging the image of banks

Prime Minister Narendra Modi declared that, “Everyday bundles of notes are being seized. Big people, big bankers are being arrested. Technology is such that the movement of money is tracked and even if it takes time, every corrupt would be caught” . Agreed everyday bundles of notes (mostly containing new notes) are being seized from several unscrupulous people. We are indeed shocked to see that these run into crores and crores of rupees. How come these elements have “managed” to get new notes, in such a short period? Of course it’s crystal clear that they have been conniving with the bank officials who are in charge of cash movement. Moreover, bank people also indulge in this crime to earn hefty commission.

Only a few days back, bank officials were in for total praise and appreciation for working without rest and providing service to customers. Now certain vested interests are damaging the image of banks. Evidently, some bank officials are hand in glove with corrupt people. As the adage goes, there will be hardly anybody who will not lick his fingers if he puts his hand in a pot of honey. What is required is a change in the people’s mindset. For some, dishonesty seems to be the best policy. Such people must be dealt with strictly by giving them exemplary punishment so that it will be a lesson to others as well and they will rethink before indulging in illegal dealings.

I say expose all these bank officials, name them and publish their photos and put them behind bars because, today for want of cash in banks and ATMs, people are left to face miseries. And the main reason is diversion of cash in crores to hawala operators, blackmoney hoarders and so on. Just in Tamil Nadu, Karnataka and now Delhi alone, thousands of crores stashed were found. It’s astounding that Delhi lawyers have been making huge money and indulging in such nefarious activities to convert black money into white by “buying new denomination notes”. In the latest raids and seizures, leaders of national political leaders have been exposed and as involved in this criminal exercise of “black money conversion” .

Will the amount seized be now sent to bank lockers and ATMs? High time Hon’ ble Prime Minister, Finance Minister and RBI took strong measures to pave the way for easy availability of cash in all bank branches and ATMs. Sorry, patience seems to be running out and there is anguish as we see crores of new notes being found in IT raids and people being deprived of their own cash for daily needs.

One positive aspect has been clearly revealed that the process of demonetization has exposed the deep-rooted corruption that rules every strata of society. There is indeed a strong and nefarious connections between the bank officials, black money hoarders and political leaders too.

S. Krishna Kumar

(The views expressed by the author in the article are his/her own.)

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