Double Speak Manmohan Singh
Posted July 4, 2011
All clever leaders of Congress Party including Manmohan Singh, Pranab Mukherjee, Kapil Sibal , Mr. Chidambram are pleading that Anna Hazare and his team, Baba Ramedo and his team and some of opposition parties and organizations are trying to belittle and ignore systems and procedures of democracy, humiliate lawfully elected representatives of Parliament, attacking on the tradition procedure of legislation under Parliamentary democracy system and going against the spirit of the Constitution.
Further Mr. PM Manmohan Singh says that he also wants strong Lokpal but Lokpal bill as proposed by Civil Society members should not violate basic structure of the Constitution.
May I ask a question to advocates of Congress Party who are trying to postpone and stop the formation of Jan Lokpal by hook or by crook in the same way as they did in last 40 years?
If yes
I ask them
“Is our Constitution so mean, so much rigid and so much conservative that it prevents lawmakers to give the country a strong Lokpal to deal with corrupt politicians, corrupt MPs and corrupt officials?”
Has our Constitution become a puppet in the hands of corrupt politicians?
Do our great Constitution permits corrupt people to perpetuate their corrupt activities?
If not,
Why can’t we change the basic structure of the Constitution if at all needed and if our experience of last 40 to 60 years substantiate the bitter truth that all available agencies like CBI, Vigilance Department, Anti Corruption Bureau, Judiciary, Parliament, IB, Police and other various departments have completely failed to prevent corruption and punish corrupt person in time?
When PM has himself expressed his desire to come under the ambit of Lokpal, why his cabinet colleagues are so much afraid of Lokpal?
Is it not the bitter truth that they are likely to be trapped if the proposed strong Lokpal bill is enacted.
It is also true that Mr. Manmohan Singh had expressed his desire voluntarily to appear before PAC investigating 2G scam but Congress Party intentionally rejected PAC report and not allowed the report to be placed before the Parliament.
Again one question arises: “Is it the Congress Party style of Parliamentary Democracy?”
If Congress Party fail to give respect to the reports of Constitutionally established bodies like CAG, PAC, CBI and CVC, how can it be said that congress Party is only the protector of Parliamentary Democracy and on the contrary BJP, RSS, Anna Hazare and Ramdeo Baba desire to strangulate Parliamentary Democracy.
Can Congress admit honestly that imposition of emergency by renowned Indira Gandhi , the then leader of Congress Party in 1975 was against the ethics of Parliamentary Democracy.
Sau Chuhe Mar Kar, Billi Haza Ko chali
Bank suffers loss not due to non performance of incapable or less intelligent bank officials but due to performance of corrupt, clever and mischievous minded officials.
Bihar State suffered not due to inefficient and incapable Chief Minister but due to clever and corrupt Chief Minister Mr. Lalu Yadav because Mr. Lalu caused much more damage to the State of Bihar than his wife Rabri Devi as Chief Minister.
India did not suffer much loss in the hands of non economist and not-so-clean Prime Minister in last 60 years as it suffered under the premiership of world famous economist and clean image Prime Minister Mr. Manmohan Singh.
Sunday, November 13, 2011
Feedback, May I help you,Customer Cell
Feedback, May I help You, Customer Cell
Posted July 6, 2011
Characteristic of this country is that every department publishes email addresses of various dignitaries on front page of their website to invite and to receive public opinion, public complaints and to receive public grievance for remedy and redressal of grievances but almost none of the officer concerned is serious on taking action on contents of email or written complains or TV exposure.
There are several excuses for non action and for keeping mum. Even our Prime Minister became victim of this culture of not taking any action on letters received against VIPs of the office and that is why he did not take action on letters of A Raja in 2G spectrum scam and silently gave his consent to what was happening in telecom ministry.
Similarly president’s secretariat also receives hundreds of email from common men but almost no action is taken on such emails but forwarded to concerned department without ensuring its logical end. PM’s office and FM;s offices are receiving lacs of mails but there are inadequate and unwilled persons to dispose of such email without ensuring final action on emails. Members of Parliaments in general are almost non-intelligent or unwilled to be able to open email, read it and reply it. It is astonishing that such High profile dignitaries are called public representatives and they claim to be well wisher of common men.
Customer cell or people’s Forum in most of the government offices. Public sector undertakings, banks, insurance companies, police departments, PMO, President’s secretariat and departments, they simply forward the emails to some or the other office and forget. Or say address of the sender of email is not known, or email is fake, there are several excuses for not taking decision on email.
In our country main issue, main subject, main cause for concern is not given much thought, On the contrary our bureaucrats, officers and politicians put emphasis on issue-raiser, torture the complainants, focus on who is behind the issue, who is writer of the complains, who is launcher of the movement against black money or corruption so that mouth of the voice raise may be shut for even or writing of such writer may be stopped for ever, or Front runner of any movement is put to task.
In our country politicians know very well how to ignore national issue and diver the mind of common men from main point to some insignificant point like reservation,, change of name of a town, secularism, democracy etc.
This is why none of emails or written complaints is ever acknowledged by receivers. Attractive boards, hoardings, banners, pamphlets promising best customer service and best grievance redresal system do not serve any real purpose to common men.
All departments display a board, “We serve you”, “we are meant to serve you better”, “customer service is our motto”, “Customer is God” , Customer cell, Online grievance redresal cell, lodge your complains online , feedback, lodge your grievance, suggestions are invited etc but the spirit behind such banners and posters is never taken seriously. All these activities are only show business and hence Bakwas.
Various political parties and organizations also seek online suggestions but never read it. Ministers have been proved laptop to keep them abreast of public related issues and to respond on public suggestions. But minister or their departmental heads seldom open email and read it, not to speak of taking action to solve the problem.
Posted July 6, 2011
Characteristic of this country is that every department publishes email addresses of various dignitaries on front page of their website to invite and to receive public opinion, public complaints and to receive public grievance for remedy and redressal of grievances but almost none of the officer concerned is serious on taking action on contents of email or written complains or TV exposure.
There are several excuses for non action and for keeping mum. Even our Prime Minister became victim of this culture of not taking any action on letters received against VIPs of the office and that is why he did not take action on letters of A Raja in 2G spectrum scam and silently gave his consent to what was happening in telecom ministry.
Similarly president’s secretariat also receives hundreds of email from common men but almost no action is taken on such emails but forwarded to concerned department without ensuring its logical end. PM’s office and FM;s offices are receiving lacs of mails but there are inadequate and unwilled persons to dispose of such email without ensuring final action on emails. Members of Parliaments in general are almost non-intelligent or unwilled to be able to open email, read it and reply it. It is astonishing that such High profile dignitaries are called public representatives and they claim to be well wisher of common men.
Customer cell or people’s Forum in most of the government offices. Public sector undertakings, banks, insurance companies, police departments, PMO, President’s secretariat and departments, they simply forward the emails to some or the other office and forget. Or say address of the sender of email is not known, or email is fake, there are several excuses for not taking decision on email.
In our country main issue, main subject, main cause for concern is not given much thought, On the contrary our bureaucrats, officers and politicians put emphasis on issue-raiser, torture the complainants, focus on who is behind the issue, who is writer of the complains, who is launcher of the movement against black money or corruption so that mouth of the voice raise may be shut for even or writing of such writer may be stopped for ever, or Front runner of any movement is put to task.
In our country politicians know very well how to ignore national issue and diver the mind of common men from main point to some insignificant point like reservation,, change of name of a town, secularism, democracy etc.
This is why none of emails or written complaints is ever acknowledged by receivers. Attractive boards, hoardings, banners, pamphlets promising best customer service and best grievance redresal system do not serve any real purpose to common men.
All departments display a board, “We serve you”, “we are meant to serve you better”, “customer service is our motto”, “Customer is God” , Customer cell, Online grievance redresal cell, lodge your complains online , feedback, lodge your grievance, suggestions are invited etc but the spirit behind such banners and posters is never taken seriously. All these activities are only show business and hence Bakwas.
Various political parties and organizations also seek online suggestions but never read it. Ministers have been proved laptop to keep them abreast of public related issues and to respond on public suggestions. But minister or their departmental heads seldom open email and read it, not to speak of taking action to solve the problem.
Ineffective Government promote Corruption
Ineffective Government and Corrupt System
Posted July 8, 2011
Is there any provision to take action against judges who in nexus with advocates are willfully delaying the process of justice?
If yes, has any government taken any against any corrupt judges in the past which could demonstrate the effectiveness of the Law and willingness of rulers to punish the corrupt judges before it is too late? Has any of the government taken any drastic step to reduce pendency in courts and to expedite award of justice?
Lacs of cases against defaulters of the bank and against NPA borrowers have been filed in various local courts, district courts, Lok Adalats, Ombudsmen, High courts, Supreme court, Debt recovery Tribunals, District Certificate Officers, District magistrate’s court , Sub Divisional Magistrate’ court for taking possession of property seized under SERFAECI act etc have been filed by various financial institutes including public sector banks but due to manpower shortage or due to inefficiency of executives, or due to malicious intention of magistrates and judges, or due to conspiracy of advocates in nexus with judges and magistrates cases are lying pending for years together.
What action government has taken against the judiciary and advocates in recovering the money of banks which have been locked in willful defaulters of the bank?
It is observed that banks have granted loan against fake deed of landed property or financed to many firms against the collateral or prime security of same laded property. Have government punished any of Sub registrars or deed writer or bankers who worked with negligence and malicious intention?
Banks sanction new loans and advances on the strength of prime of collateral security valued by approved valuers or government recognized valuers. But if these valuers give inflated value of any property after taking extraordinary service charges from loan seeker or with some vested interest or with malicious intention and in turn jeopardize the loan disbursed by banks, what remedial recourse lies with bankers or the government. Bankers at most remove the name of such valuers from their panel or the government blacklist such valuers.
Is there any provision to punish such valuers?
If yes, has nay authority or any bankers have even punished such unscrupulous valuers?
It is observed that Chartered Accountants blindly sign on balance sheets or financial reports of banks and borrowers, companies and firms if they are given attractive amount of money as service charges. These CA while conducting statutory audits of various banks more often than not simply put their seal and signature and take attractive fees and charges from banks. Wage without work is the suitable slogan of CAs.
CA have to complete audit of two to three branches in a period of five to six days and hence they can neither make honest and through scrutiny of records of branch of the bank they are asked to audit by RBI nor they have the will to do so because there is no deterrent action if they prefer not to do their duty honestly. Have government taken any action against any of CAs in the past 60 years which could teach a lesson to team of CA? Due to sheer negligence and malicious intention of the controlling, monitoring and regulating officials .Chartered Accountants in India have become habituated to claim gift, bribe, grand hospitality and all out of pocket expenses to sin a balance sheet , which may be right or wrong, true or false, actual or inflated.
Similarly there are advocates who give legal opinion blindly and cause huge loss to banks who on the basis of favourable legal reports and search reports sanction loans to loan seekers and who ultimately become victim of negligence and malicious intention of the advocates. RBI knows very well that huge amount of banks have become irrecoverable only due to multiple financing on same landed property or due to financing on fake deed or due to wrongful and unlawful sale of property already mortgaged to some bank for taking loan.
Have Government taken action against any advocate or any sub registrar or Any Deed writer or any officials due to whose fault banks had to suffer huge loss? Never ,,, Never because none of government department and offices really want to work . Officials in all offices and departments usually remain in search of some clients who can offer attractive bribe in cash or in kind or some precious gifts in lieu of service he extends.
Bank officials who sanction credit after taking bribe are able to please their bosses and ensure their timely and unusual promotion and get choice posting. Honest and intelligent officers are sidelined and posted at critical place or remote rural centers so that their voice against evil work may be stopped. Good officers are denied their promotion in time and juniors are given change after taking bribe. Has government ever tried to stop such bribe based promotions and transfers. Not only in banks but top ranked officials of all state governments and central government resort to mass transfer and earn money in lieu of giving favour to staff who desire choice posting and timely promotions.
Police officers do not lodge FIR in their registers, do not execute warrants issued against VIPs by various courts ,do not question criminals but tortures the person who wish to lodge complaint against criminals , defaulters and law breakers. Has government taken any step in last 60 years to change the system and procedure of police department which give them unrestricted powers and which tempts them to take whimsical decisions and arbitrary action against honest and true citizens?
Hundreds of cases filed against corrupt officers related to misuse of power, fraudulent activities, bribe led lending, lack of monitoring, negligence of duty, favour to dishonest contractors, passing of bills of unscrupulous suppliers, passing of fake bills or inflated bills either lie pending for disposal for years together in the office of Vigilance office, CBI,Anti Corruption bureau, or Human resource department for decisive action against erring officers or such files are closed acquitting erring officials .
Why?
Is there any mechanism in the almirah of the government to prevent such malpractices which frequently and recurrently occur almost in all offices, departments and Secretariats of various Ministries?
Political stalwarts spread propaganda that loans of poor farmers or big businessmen will be waived by the government or by the bank .Such ill motivated propaganda ultimately vitiates the atmosphere of recovery. Government announces waiver scheme from time to time for electoral gain. As a result borrowers of the bank willfully default in repayment of bank loan. Quantum of Non Performing Assets known as bad assets in public domain continues to rise year after year in all public sector banks. Then process of compromise and write off starts at bank level and again there is unhealthy transaction of money between bankers and borrowers or between brokers and officers who decides to sanction sacrifice loan amount. Ultimately culture of non-re payment of loan by borrowers back to banks takes the root and bankers have to suffer huge loss due to high provisioning and due to rising NPA.
Government has not courage, no will, no effective tools to punish bad politicians because government is made of such corrupt politicians only. Government has no courage to punish kith and kin of powerful politicians and bureaucrats who have willfully defaulted in repayment of bank loans and payment of tax dues or other charges due to government.
This is why there is mass upsurge against rampant corruption and people of India have started raising voice against corrupt system. Government can punish Ramdeo or Anna Hazare but cannot stop public revolt.
Posted July 8, 2011
Is there any provision to take action against judges who in nexus with advocates are willfully delaying the process of justice?
If yes, has any government taken any against any corrupt judges in the past which could demonstrate the effectiveness of the Law and willingness of rulers to punish the corrupt judges before it is too late? Has any of the government taken any drastic step to reduce pendency in courts and to expedite award of justice?
Lacs of cases against defaulters of the bank and against NPA borrowers have been filed in various local courts, district courts, Lok Adalats, Ombudsmen, High courts, Supreme court, Debt recovery Tribunals, District Certificate Officers, District magistrate’s court , Sub Divisional Magistrate’ court for taking possession of property seized under SERFAECI act etc have been filed by various financial institutes including public sector banks but due to manpower shortage or due to inefficiency of executives, or due to malicious intention of magistrates and judges, or due to conspiracy of advocates in nexus with judges and magistrates cases are lying pending for years together.
What action government has taken against the judiciary and advocates in recovering the money of banks which have been locked in willful defaulters of the bank?
It is observed that banks have granted loan against fake deed of landed property or financed to many firms against the collateral or prime security of same laded property. Have government punished any of Sub registrars or deed writer or bankers who worked with negligence and malicious intention?
Banks sanction new loans and advances on the strength of prime of collateral security valued by approved valuers or government recognized valuers. But if these valuers give inflated value of any property after taking extraordinary service charges from loan seeker or with some vested interest or with malicious intention and in turn jeopardize the loan disbursed by banks, what remedial recourse lies with bankers or the government. Bankers at most remove the name of such valuers from their panel or the government blacklist such valuers.
Is there any provision to punish such valuers?
If yes, has nay authority or any bankers have even punished such unscrupulous valuers?
It is observed that Chartered Accountants blindly sign on balance sheets or financial reports of banks and borrowers, companies and firms if they are given attractive amount of money as service charges. These CA while conducting statutory audits of various banks more often than not simply put their seal and signature and take attractive fees and charges from banks. Wage without work is the suitable slogan of CAs.
CA have to complete audit of two to three branches in a period of five to six days and hence they can neither make honest and through scrutiny of records of branch of the bank they are asked to audit by RBI nor they have the will to do so because there is no deterrent action if they prefer not to do their duty honestly. Have government taken any action against any of CAs in the past 60 years which could teach a lesson to team of CA? Due to sheer negligence and malicious intention of the controlling, monitoring and regulating officials .Chartered Accountants in India have become habituated to claim gift, bribe, grand hospitality and all out of pocket expenses to sin a balance sheet , which may be right or wrong, true or false, actual or inflated.
Similarly there are advocates who give legal opinion blindly and cause huge loss to banks who on the basis of favourable legal reports and search reports sanction loans to loan seekers and who ultimately become victim of negligence and malicious intention of the advocates. RBI knows very well that huge amount of banks have become irrecoverable only due to multiple financing on same landed property or due to financing on fake deed or due to wrongful and unlawful sale of property already mortgaged to some bank for taking loan.
Have Government taken action against any advocate or any sub registrar or Any Deed writer or any officials due to whose fault banks had to suffer huge loss? Never ,,, Never because none of government department and offices really want to work . Officials in all offices and departments usually remain in search of some clients who can offer attractive bribe in cash or in kind or some precious gifts in lieu of service he extends.
Bank officials who sanction credit after taking bribe are able to please their bosses and ensure their timely and unusual promotion and get choice posting. Honest and intelligent officers are sidelined and posted at critical place or remote rural centers so that their voice against evil work may be stopped. Good officers are denied their promotion in time and juniors are given change after taking bribe. Has government ever tried to stop such bribe based promotions and transfers. Not only in banks but top ranked officials of all state governments and central government resort to mass transfer and earn money in lieu of giving favour to staff who desire choice posting and timely promotions.
Police officers do not lodge FIR in their registers, do not execute warrants issued against VIPs by various courts ,do not question criminals but tortures the person who wish to lodge complaint against criminals , defaulters and law breakers. Has government taken any step in last 60 years to change the system and procedure of police department which give them unrestricted powers and which tempts them to take whimsical decisions and arbitrary action against honest and true citizens?
Hundreds of cases filed against corrupt officers related to misuse of power, fraudulent activities, bribe led lending, lack of monitoring, negligence of duty, favour to dishonest contractors, passing of bills of unscrupulous suppliers, passing of fake bills or inflated bills either lie pending for disposal for years together in the office of Vigilance office, CBI,Anti Corruption bureau, or Human resource department for decisive action against erring officers or such files are closed acquitting erring officials .
Why?
Is there any mechanism in the almirah of the government to prevent such malpractices which frequently and recurrently occur almost in all offices, departments and Secretariats of various Ministries?
Political stalwarts spread propaganda that loans of poor farmers or big businessmen will be waived by the government or by the bank .Such ill motivated propaganda ultimately vitiates the atmosphere of recovery. Government announces waiver scheme from time to time for electoral gain. As a result borrowers of the bank willfully default in repayment of bank loan. Quantum of Non Performing Assets known as bad assets in public domain continues to rise year after year in all public sector banks. Then process of compromise and write off starts at bank level and again there is unhealthy transaction of money between bankers and borrowers or between brokers and officers who decides to sanction sacrifice loan amount. Ultimately culture of non-re payment of loan by borrowers back to banks takes the root and bankers have to suffer huge loss due to high provisioning and due to rising NPA.
Government has not courage, no will, no effective tools to punish bad politicians because government is made of such corrupt politicians only. Government has no courage to punish kith and kin of powerful politicians and bureaucrats who have willfully defaulted in repayment of bank loans and payment of tax dues or other charges due to government.
This is why there is mass upsurge against rampant corruption and people of India have started raising voice against corrupt system. Government can punish Ramdeo or Anna Hazare but cannot stop public revolt.
Corrupt System helps Corrupt officers to Loot Banks
Corrupt System Helps corrupt officers to justify NPA
Posted July 9, 2011
Lacs of cases against defaulters of the bank and against NPA borrowers have been filed in various local courts, district courts, Lok Adalats, Ombudsmen, High courts, Supreme court, Debt recovery Tribunals, District Certificate Officers, District magistrate’s court , Sub Divisional Magistrate’ court for taking possession of property seized under SERFAECI act etc have been filed by various financial institutes including public sector banks but due to manpower shortage or due to inefficiency of executives, or due to malicious intention of magistrates and judges, or due to conspiracy of advocates in nexus with judges and magistrates cases are lying pending for years together.
Is there any provision to take action against judges who in nexus with advocates are willfully delaying the process of justice?
If yes, has any government taken any against any corrupt judges in the past which could demonstrate the effectiveness of the Law and willingness of rulers to punish the corrupt judges before it is too late?
Has any of the government taken any drastic step to reduce pendency in courts and to expedite award of justice?
What action government has taken against the judiciary and advocates in recovering the money of banks which have been locked in willful defaulters of the bank?
It is observed that banks have granted loan against fake deed of landed property or financed to many firms against the collateral or prime security of same laded property.
Have government punished any of Sub registrars or deed writer or bankers who worked with negligence and malicious intention?
Banks sanction new loans and advances on the strength of prime of collateral security valued by approved valuers or government recognized valuers. But if these valuers give inflated value of any property after taking extraordinary service charges from loan seeker or with some vested interest or with malicious intention and in turn jeopardize the loan disbursed by banks, what remedial recourse lies with bankers or the government. Bankers at most remove the name of such valuers from their panel or the government blacklist such valuers.
Is there any provision to punish such valuers?
If yes, has any authority or any bankers have ever punished such unscrupulous valuers?
It is observed that Chartered Accountants blindly sign on balance sheets or financial reports of banks and borrowers, companies and firms if they are given attractive amount of money as service charges. These CA while conducting statutory audits of various banks more often than not ,simply put their seal and signature and take attractive fees and charges from banks. Wage without work is the suitable slogan of CAs.
It is also true that CAs have to complete audit of two to three branches in a period of five to six days and hence they can neither make honest and through scrutiny of records of branch of the bank they are asked to audit by RBI nor they have the will to do so because there is no deterrent action if they prefer not to do their duty honestly.
Have government taken any action against any of CAs in the past 60 years which could teach a lesson to team of CA?
Have government pondered over the real need of time period to make a serious scrutiny of balance sheet of a branch?
Or it is planned diplomacy of clever bankers to give minimum time to CA or for that matter any inquiry or vigilance officer so that he comes under pressure and sign the financial papers hurriedly ignoring the faults and mistakes.
Due to sheer negligence and malicious intention of the controlling, monitoring and regulating officials .Chartered Accountants in India have become habituated to claim gift, bribe, grand hospitality and all out of pocket expenses to sign a balance sheet , which may be right or wrong, true or false, actual or inflated. It is only a few stray cases where CAs are greedy and bank officials are dry honest and simple hearted that some of the irregularities are reported in audit report.
It is worthwhile to mention here evil deeds of owner of Satyam Computers was not detected by team of Chartered Accountants and similarly less provisioning made by public sector banks including SBI towards their regular liabilities such as pension, gratuity, NPA was also not detected by team of CAs who use to audit the bank year after year.
Similarly there are advocates who give legal opinion blindly and cause huge loss to banks who on the basis of favourable legal reports and search reports sanction loans to loan seekers and who ultimately become victim of negligence and malicious intention of the advocates. RBI knows very well that huge amount of banks have become irrecoverable only due to multiple financing on same landed property or due to financing on fake deed or due to wrongful and unlawful sale of property already mortgaged to some bank for taking loan.
Have Government taken action against any advocate or any sub registrar or Any Deed writer or any officials due to whose fault banks had to suffer huge loss?
Never ,,, Never because none of government department and offices really want to work especially top ranked officers who are busy in passing the time and retire . Officials in all offices and departments usually remain in search of some clients who can offer attractive bribe in cash or in kind or some precious gifts in lieu of service he extends.
Bank officials who sanction credit after taking bribe are able to please their bosses and ensure their timely and unusual promotion and get choice posting. Honest and intelligent officers are sidelined and posted at critical place or remote rural centers so that their voice against evil work may be stopped. Good officers are denied their promotion in time and juniors are given change after taking bribe. Has government ever tried to stop such bribe based promotions and transfers. Not only this even direct recruitment of officers in various scales is also undertaken by bank officials to earn bribe , campus recruitment is allowed in a college based on whims of some senior officers to give favour to his own boys and girls , of his own community. Not only in banks but top ranked officials of all state governments and central government resort to mass transfer and earn money in lieu of giving favour to staff who desire choice posting and timely promotions.
Police officers do not lodge FIR in their registers, do not execute warrants issued against VIPs by various courts ,do not question criminals but tortures the person who wish to lodge complaint against criminals , defaulters and law breakers.
Has government taken any step in last 60 years to change the system and procedure of police department which give them unrestricted powers and which tempts them to take whimsical decisions and arbitrary action against honest and true citizens?
Hundreds of cases filed against corrupt officers related to misuse of power, fraudulent activities, bribe led lending, lack of monitoring, negligence of duty, favour to dishonest contractors, passing of bills of unscrupulous suppliers, passing of fake bills or inflated bills either lie pending for disposal for years together in the office of Vigilance office, CBI,Anti Corruption bureau, or Human resource department for decisive action against erring officers or such files are closed acquitting erring officials . New trend has developed in government offices to burn the loss of files related to corruption of high profile officers. File are made untraceable or declared lost.
Why?
Is there any mechanism or tool in the rule book or almirah of the government to prevent such malpractices which frequently and recurrently occur almost in all offices, departments and Secretariats of various Ministries?
Political stalwarts spread propaganda that loans of poor farmers or big businessmen will be waived by the government or by the bank .Such ill motivated propaganda ultimately vitiates the atmosphere of recovery. Government announces waiver scheme from time to time for electoral gain. As a result borrowers of the bank willfully default in repayment of bank loan. Quantum of Non Performing Assets known as bad assets in public domain continues to rise year after year in all public sector banks. Then process of compromise and write off starts at bank level and again there is unhealthy transaction of money between bankers and borrowers or between brokers and officers who decides to sanction sacrifice loan amount. Ultimately culture of non-re payment of loan by borrowers back to banks takes the root and bankers have to suffer huge loss due to high provisioning and due to rising NPA. For this purpose bank officials , union leaders and politicians all are friends and relatives of each other.
Government has not courage, no will, no effective tools to punish bad politicians because government is made of such corrupt politicians only. Government has no courage to punish kith and kin of powerful politicians and bureaucrats who have willfully defaulted in repayment of bank loans and payment of tax dues or other charges due to government.
This is why there is mass upsurge against rampant corruption and people of India have started raising voice against corrupt system.
Government can punish Ramdeo or Anna Hazare but cannot stop public revolt.
Posted July 9, 2011
Lacs of cases against defaulters of the bank and against NPA borrowers have been filed in various local courts, district courts, Lok Adalats, Ombudsmen, High courts, Supreme court, Debt recovery Tribunals, District Certificate Officers, District magistrate’s court , Sub Divisional Magistrate’ court for taking possession of property seized under SERFAECI act etc have been filed by various financial institutes including public sector banks but due to manpower shortage or due to inefficiency of executives, or due to malicious intention of magistrates and judges, or due to conspiracy of advocates in nexus with judges and magistrates cases are lying pending for years together.
Is there any provision to take action against judges who in nexus with advocates are willfully delaying the process of justice?
If yes, has any government taken any against any corrupt judges in the past which could demonstrate the effectiveness of the Law and willingness of rulers to punish the corrupt judges before it is too late?
Has any of the government taken any drastic step to reduce pendency in courts and to expedite award of justice?
What action government has taken against the judiciary and advocates in recovering the money of banks which have been locked in willful defaulters of the bank?
It is observed that banks have granted loan against fake deed of landed property or financed to many firms against the collateral or prime security of same laded property.
Have government punished any of Sub registrars or deed writer or bankers who worked with negligence and malicious intention?
Banks sanction new loans and advances on the strength of prime of collateral security valued by approved valuers or government recognized valuers. But if these valuers give inflated value of any property after taking extraordinary service charges from loan seeker or with some vested interest or with malicious intention and in turn jeopardize the loan disbursed by banks, what remedial recourse lies with bankers or the government. Bankers at most remove the name of such valuers from their panel or the government blacklist such valuers.
Is there any provision to punish such valuers?
If yes, has any authority or any bankers have ever punished such unscrupulous valuers?
It is observed that Chartered Accountants blindly sign on balance sheets or financial reports of banks and borrowers, companies and firms if they are given attractive amount of money as service charges. These CA while conducting statutory audits of various banks more often than not ,simply put their seal and signature and take attractive fees and charges from banks. Wage without work is the suitable slogan of CAs.
It is also true that CAs have to complete audit of two to three branches in a period of five to six days and hence they can neither make honest and through scrutiny of records of branch of the bank they are asked to audit by RBI nor they have the will to do so because there is no deterrent action if they prefer not to do their duty honestly.
Have government taken any action against any of CAs in the past 60 years which could teach a lesson to team of CA?
Have government pondered over the real need of time period to make a serious scrutiny of balance sheet of a branch?
Or it is planned diplomacy of clever bankers to give minimum time to CA or for that matter any inquiry or vigilance officer so that he comes under pressure and sign the financial papers hurriedly ignoring the faults and mistakes.
Due to sheer negligence and malicious intention of the controlling, monitoring and regulating officials .Chartered Accountants in India have become habituated to claim gift, bribe, grand hospitality and all out of pocket expenses to sign a balance sheet , which may be right or wrong, true or false, actual or inflated. It is only a few stray cases where CAs are greedy and bank officials are dry honest and simple hearted that some of the irregularities are reported in audit report.
It is worthwhile to mention here evil deeds of owner of Satyam Computers was not detected by team of Chartered Accountants and similarly less provisioning made by public sector banks including SBI towards their regular liabilities such as pension, gratuity, NPA was also not detected by team of CAs who use to audit the bank year after year.
Similarly there are advocates who give legal opinion blindly and cause huge loss to banks who on the basis of favourable legal reports and search reports sanction loans to loan seekers and who ultimately become victim of negligence and malicious intention of the advocates. RBI knows very well that huge amount of banks have become irrecoverable only due to multiple financing on same landed property or due to financing on fake deed or due to wrongful and unlawful sale of property already mortgaged to some bank for taking loan.
Have Government taken action against any advocate or any sub registrar or Any Deed writer or any officials due to whose fault banks had to suffer huge loss?
Never ,,, Never because none of government department and offices really want to work especially top ranked officers who are busy in passing the time and retire . Officials in all offices and departments usually remain in search of some clients who can offer attractive bribe in cash or in kind or some precious gifts in lieu of service he extends.
Bank officials who sanction credit after taking bribe are able to please their bosses and ensure their timely and unusual promotion and get choice posting. Honest and intelligent officers are sidelined and posted at critical place or remote rural centers so that their voice against evil work may be stopped. Good officers are denied their promotion in time and juniors are given change after taking bribe. Has government ever tried to stop such bribe based promotions and transfers. Not only this even direct recruitment of officers in various scales is also undertaken by bank officials to earn bribe , campus recruitment is allowed in a college based on whims of some senior officers to give favour to his own boys and girls , of his own community. Not only in banks but top ranked officials of all state governments and central government resort to mass transfer and earn money in lieu of giving favour to staff who desire choice posting and timely promotions.
Police officers do not lodge FIR in their registers, do not execute warrants issued against VIPs by various courts ,do not question criminals but tortures the person who wish to lodge complaint against criminals , defaulters and law breakers.
Has government taken any step in last 60 years to change the system and procedure of police department which give them unrestricted powers and which tempts them to take whimsical decisions and arbitrary action against honest and true citizens?
Hundreds of cases filed against corrupt officers related to misuse of power, fraudulent activities, bribe led lending, lack of monitoring, negligence of duty, favour to dishonest contractors, passing of bills of unscrupulous suppliers, passing of fake bills or inflated bills either lie pending for disposal for years together in the office of Vigilance office, CBI,Anti Corruption bureau, or Human resource department for decisive action against erring officers or such files are closed acquitting erring officials . New trend has developed in government offices to burn the loss of files related to corruption of high profile officers. File are made untraceable or declared lost.
Why?
Is there any mechanism or tool in the rule book or almirah of the government to prevent such malpractices which frequently and recurrently occur almost in all offices, departments and Secretariats of various Ministries?
Political stalwarts spread propaganda that loans of poor farmers or big businessmen will be waived by the government or by the bank .Such ill motivated propaganda ultimately vitiates the atmosphere of recovery. Government announces waiver scheme from time to time for electoral gain. As a result borrowers of the bank willfully default in repayment of bank loan. Quantum of Non Performing Assets known as bad assets in public domain continues to rise year after year in all public sector banks. Then process of compromise and write off starts at bank level and again there is unhealthy transaction of money between bankers and borrowers or between brokers and officers who decides to sanction sacrifice loan amount. Ultimately culture of non-re payment of loan by borrowers back to banks takes the root and bankers have to suffer huge loss due to high provisioning and due to rising NPA. For this purpose bank officials , union leaders and politicians all are friends and relatives of each other.
Government has not courage, no will, no effective tools to punish bad politicians because government is made of such corrupt politicians only. Government has no courage to punish kith and kin of powerful politicians and bureaucrats who have willfully defaulted in repayment of bank loans and payment of tax dues or other charges due to government.
This is why there is mass upsurge against rampant corruption and people of India have started raising voice against corrupt system.
Government can punish Ramdeo or Anna Hazare but cannot stop public revolt.
Indian Loss due to Clean PM Manmohan
When Nitish Kumar, chief Minister of Bihar had last year stopped release of MLA fund due to rampant corruption and misuse of MLA fund there was expectation in the minds of common men that Congress Party at center will think of stopping MP fund due to same reason. It is unfortunate but not astonishing to me that Congress Party led UPA government has decided to increase MP fund from Rs.2.00 crores to rupees five crores with immediate effect knowing very well the prevalent corruption and misuse of MP fund. Such decision taken by UPA government will do nothing but add fuel to fire of corruption in which Indians are burning.
In addition this reflects the true character and the mentality of leaders of Congress Party who are completely insensitive and unconcerned about the voice raised by Baba Ramdeo against Black Money and the voice raised by Anna Hazare and his team against rampant corruption. Various spokesmen of ruling Congress Party appear to shed crocodile’s tears against the corrupt system but their efforts to stop corruption are false and deceptive with a motto to cheat and mislead common men.
Clean image Prime Minister Mr. Manmohan Singh is least bothered of his cabinet colleagues, prominent leaders of his party and big corporate house owners going to Tihar Jail on the charges of Corruption and he is least concerned of India’s image getting tarnished in the International community. Mr. Singh does not want even to own collective responsibility of his cabinet and neither does he want to give any importance to civil society members like Anna Hazare or Baba Ramdeo who have launched their movement against corruption and black money.
It is people of India who have to decide now in what way they desire to punish corrupt politicians and bureaucrats—in peaceful manner or in the style of naxalites.During last seven years of rule under the leadership of Manmohan Singh , several scams have surfaced and several prominent persons have been trapped by CBI at the instance and initiative of Supreme Court.As such my great salute goes to judges of Apex court who are contributing their best to give maximum relief to common men by exposing and punishing top ranked corrupt persons.
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Suggestion for better Planning
Government of India has expressed desire to seek suggestions and views from public to bring about reformation in planning and they have uploaded a discussion icon on t website of Planning Commission.
What is the use of seeking suggestions from public?
Any reformation is incomplete as long as human values are ignored and disrespected. Corruption can never be controlled by corrupt officers. Justice cannot be expected in time from corrupt judges. Corrupt ministers can never ensure good governance. Corrupt Chartered Accountants cannot stop malafide transactions and fraud in financial statements. Corrupt lawyers cannot ensure timely justice with the victim. Corrupt ministers and corrupt departmental heads cannot allow good officers to remain in and around his work place.
Economic reformation launched in1991 has helped in multiplying and aggravating the proportion of corruption in public life. Businessmen are given absolute freedom to earn profit as much as they like and this is the main reason behind relentless price rise and this is why price rise has gone beyond control of the administration and the government.
Labour reforms or judicial reforms are disliked by all politicians who believe in earning illegal money.
It is therefore not an exaggeration to say that none of the offices responsible for looking after welfare of working class is doing their job properly. It is bitter but undeniable truth.
Bribe based recruitment,whimsical transfer with malafide intention, bribe based promotion, forgery in examination, sale of examination question papers of all important examinations , bribe based setting with interviewers to pass the test, use of lobby to get good posting and before time promotion and so on , all these have become common and usual style of functioning and characteristics of all public organizations. Good employees are sidelined and corrupt employees are getting preferences in all government offices, Banks and PSUs.
Flattery and dishonesty has become the key to success in all fields.
In such position there is no use in framing policy or formulating attractive plans or asking for suggestions from the public to bring about reformation.
Until top ranked officers, ministers, public representatives, politicians and government staff in general become honest and patriot Indians cannot dream of getting justice in any field.
To add fuel to fire, Indian judiciary is corrupt, inactive and inefficient .It takes decades in getting judgments from courts in India. There is lack of adequate quality manpower in courts and hence lacs and cores of cases are allowed to remain pending for years together. Justice delayed is justice denied. Aggrieved person do not like to seek remedy from police department or judiciary. Everywhere bribe money plays the prominent role. In such position courts are used to perpetrate crime and carry out rule of injustice.
Even offices of Prime Minister and President of India do not listen to public grievances, not to speak of other offices meant to make effort for redressal of public grievances though there are several such departments. All such departments are working as forwarding agents or as manufacturerers of money. They simple forward the letter or complain to concerned office and sleep. None is at all bothered to serve the people though there are called public servants
What is the need of Interview or discretion in recruitment or promotion when most of the officers are corrupt?
What is the value of annual or periodical appraisal of employees or carrying out test for promotion when conducting officials are themselves corrupt .Who cares for merit?
None indeed.
All top officers keep flatterers and corrupt officials around them to earn more and more bribe and accumulate wealth as much as possible.
Central Government is allowing time bound promotion and seniority based promotion to staff. Why Public Sector 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.
Are banks top executive earning money in recruitment, posting and promotion like other government departments?
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?
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.
Are all these possible due to strong lobby of corrupt officials?
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.
This is the story of practically all departments under the control of the government. Everywhere criminals and defaulters are respected and given recognition.
After all why is PM silent on all vital issues related to erosion in human values?
Prime Minister wrote letters to Telecom Minister but did not act to ensure that his advice is followed in true spirit. Nation lost lacs of crores of rupees.
Is mere writing of letter or forwarding of letter to concerned officer or office enough to bring about reformation?
PM allowed Kalmadi to spend 70000/ crores of rupees and could not stop malpractice despite the fact that media highlighted various irregularities.PM allowed deal with Devos on S band and later annulled the same in fear of public anger.
PM has allowed public sector banks to increase NPA or conceal NPA or sell NPA in the name of banking reformation and causing loss after loss to bank in lacs of crores of rupees.
To add fuel to fire PM allows debt waiver of forces banks to opt for compromise and sacrifice bank’s assets.
What is happening in this country after all?
Who will save this country from corrupt people?
Can such PM be allowed to cause one after other losses only due to constraints of coalition government? Is it coalition religion to survive in power?
I would like to advice our honorable PM not to malign at least the word religion. Because none of the religions in universe will allow theft of money, or disrespect to human being or compromise with human values. Manmohan Singh should say that corruption is an art used by politicians to acquire or to remain in power.
If Prime Minister of the country can allow corrupt practices, how can he dream of good governance in other offices of central or state government?
How will our learned PM then punish corrupt people as he has been promising since long?
In addition this reflects the true character and the mentality of leaders of Congress Party who are completely insensitive and unconcerned about the voice raised by Baba Ramdeo against Black Money and the voice raised by Anna Hazare and his team against rampant corruption. Various spokesmen of ruling Congress Party appear to shed crocodile’s tears against the corrupt system but their efforts to stop corruption are false and deceptive with a motto to cheat and mislead common men.
Clean image Prime Minister Mr. Manmohan Singh is least bothered of his cabinet colleagues, prominent leaders of his party and big corporate house owners going to Tihar Jail on the charges of Corruption and he is least concerned of India’s image getting tarnished in the International community. Mr. Singh does not want even to own collective responsibility of his cabinet and neither does he want to give any importance to civil society members like Anna Hazare or Baba Ramdeo who have launched their movement against corruption and black money.
It is people of India who have to decide now in what way they desire to punish corrupt politicians and bureaucrats—in peaceful manner or in the style of naxalites.During last seven years of rule under the leadership of Manmohan Singh , several scams have surfaced and several prominent persons have been trapped by CBI at the instance and initiative of Supreme Court.As such my great salute goes to judges of Apex court who are contributing their best to give maximum relief to common men by exposing and punishing top ranked corrupt persons.
0 commentsPosted in FinanceTagged as prime minister, civil society members, anna hazare, and baba ramdeo
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Suggestion for better Planning
Government of India has expressed desire to seek suggestions and views from public to bring about reformation in planning and they have uploaded a discussion icon on t website of Planning Commission.
What is the use of seeking suggestions from public?
Any reformation is incomplete as long as human values are ignored and disrespected. Corruption can never be controlled by corrupt officers. Justice cannot be expected in time from corrupt judges. Corrupt ministers can never ensure good governance. Corrupt Chartered Accountants cannot stop malafide transactions and fraud in financial statements. Corrupt lawyers cannot ensure timely justice with the victim. Corrupt ministers and corrupt departmental heads cannot allow good officers to remain in and around his work place.
Economic reformation launched in1991 has helped in multiplying and aggravating the proportion of corruption in public life. Businessmen are given absolute freedom to earn profit as much as they like and this is the main reason behind relentless price rise and this is why price rise has gone beyond control of the administration and the government.
Labour reforms or judicial reforms are disliked by all politicians who believe in earning illegal money.
It is therefore not an exaggeration to say that none of the offices responsible for looking after welfare of working class is doing their job properly. It is bitter but undeniable truth.
Bribe based recruitment,whimsical transfer with malafide intention, bribe based promotion, forgery in examination, sale of examination question papers of all important examinations , bribe based setting with interviewers to pass the test, use of lobby to get good posting and before time promotion and so on , all these have become common and usual style of functioning and characteristics of all public organizations. Good employees are sidelined and corrupt employees are getting preferences in all government offices, Banks and PSUs.
Flattery and dishonesty has become the key to success in all fields.
In such position there is no use in framing policy or formulating attractive plans or asking for suggestions from the public to bring about reformation.
Until top ranked officers, ministers, public representatives, politicians and government staff in general become honest and patriot Indians cannot dream of getting justice in any field.
To add fuel to fire, Indian judiciary is corrupt, inactive and inefficient .It takes decades in getting judgments from courts in India. There is lack of adequate quality manpower in courts and hence lacs and cores of cases are allowed to remain pending for years together. Justice delayed is justice denied. Aggrieved person do not like to seek remedy from police department or judiciary. Everywhere bribe money plays the prominent role. In such position courts are used to perpetrate crime and carry out rule of injustice.
Even offices of Prime Minister and President of India do not listen to public grievances, not to speak of other offices meant to make effort for redressal of public grievances though there are several such departments. All such departments are working as forwarding agents or as manufacturerers of money. They simple forward the letter or complain to concerned office and sleep. None is at all bothered to serve the people though there are called public servants
What is the need of Interview or discretion in recruitment or promotion when most of the officers are corrupt?
What is the value of annual or periodical appraisal of employees or carrying out test for promotion when conducting officials are themselves corrupt .Who cares for merit?
None indeed.
All top officers keep flatterers and corrupt officials around them to earn more and more bribe and accumulate wealth as much as possible.
Central Government is allowing time bound promotion and seniority based promotion to staff. Why Public Sector 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.
Are banks top executive earning money in recruitment, posting and promotion like other government departments?
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?
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.
Are all these possible due to strong lobby of corrupt officials?
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.
This is the story of practically all departments under the control of the government. Everywhere criminals and defaulters are respected and given recognition.
After all why is PM silent on all vital issues related to erosion in human values?
Prime Minister wrote letters to Telecom Minister but did not act to ensure that his advice is followed in true spirit. Nation lost lacs of crores of rupees.
Is mere writing of letter or forwarding of letter to concerned officer or office enough to bring about reformation?
PM allowed Kalmadi to spend 70000/ crores of rupees and could not stop malpractice despite the fact that media highlighted various irregularities.PM allowed deal with Devos on S band and later annulled the same in fear of public anger.
PM has allowed public sector banks to increase NPA or conceal NPA or sell NPA in the name of banking reformation and causing loss after loss to bank in lacs of crores of rupees.
To add fuel to fire PM allows debt waiver of forces banks to opt for compromise and sacrifice bank’s assets.
What is happening in this country after all?
Who will save this country from corrupt people?
Can such PM be allowed to cause one after other losses only due to constraints of coalition government? Is it coalition religion to survive in power?
I would like to advice our honorable PM not to malign at least the word religion. Because none of the religions in universe will allow theft of money, or disrespect to human being or compromise with human values. Manmohan Singh should say that corruption is an art used by politicians to acquire or to remain in power.
If Prime Minister of the country can allow corrupt practices, how can he dream of good governance in other offices of central or state government?
How will our learned PM then punish corrupt people as he has been promising since long?
Saturday, November 12, 2011
Trimurty of Inequality,Economic Policy and Arbitrariness
It is Manmohan's Reformation or deformation policy for Indian economy,GDP growth is for riches or poor,India needs capitalism of Manmohan Singh or Socialism of Nehru and Indira, Time has come to review, reassess and re-ascertain honestly the achievements and losses of policy of privatization and globalization in Indian perspective. Many developed countries have become victim of Liberalization, privatization and globalization are crying for help but not ready to accept the faults they committed by giving unbridled and unregulated freedom to elite class, to corporate , to administrative officers and to politicians
http://www.thehindu.com/opinion/lead/article2208331.ece
http://www.allbankingsolutions.com/Appeal-to-CJ-HC-Karnataka-Joint-Secretary-MOF.htm
As we close in on 20 years of Manmohanomics, it's worth remembering one chant the chattering classes uttered, first with pride, later to console themselves. “Whatever you say, we have the most honest man in Dr. Manmohan Singh. And no one can speak a word against him.” It's less heard now — those affections having been transferred to other punters in the honesty sweepstakes. But growing numbers do say this daily: the honest Prime Minister presides over indisputably the most corrupt government in our history. And therein lie many lessons.
Dr. Singh's decision to meet weekly with editors tells us which lesson he has drawn from the mess. That his government's problem with corruption is a public relations one. This even though the media, while barking at politicians in the 2G scam, have steered clear of the corporate core of all such rackets. Dr. Singh sees the media acting too often as “accuser, prosecutor and judge.” (He may have got that one right). Yet, he wants a weekly meeting with them. So is this a PR exercise? Or does he believe India's editors possess a wisdom unknown to others that will end corruption in all sectors (bar their own)? I hope the former.
Totting up his government's scams is like a Census operation. A large and complex count. There are scams done and buried, there are those alive and breathing. More are exhumed by the day. There are others in the pipeline, about to be pulled off. Still others where the media remain helpfully silent. And yet more in planning and process. We have a Union Cabinet that is possibly richer (at over Rs.500 crore) than most earlier Cabinets put together. And in spirit, reminiscent of the bungling mob in Jimmy Breslin's 1969 book The Gang That Couldn't Shoot Straight. Only this mob rakes it in where Breslin's collapsed swiftly. And this crowd runs a large country, not a few blocks in New York.
There are of course many causes of corruption and everyone has his or her favourite story. But there are three sources which, if ignored, render analysis worthless. One: the structural inequalities of Indian society, including huge concentrations of wealth and power, class and caste, gender and other embedded discrimination. Two: the whole edifice of economic policy that has (more rapidly in the past 20 years) deepened, driven and legitimised those inequalities. That has, for instance, made corporations far more important than citizens, mocking the Constitution. And three: the culture of impunity and arbitrariness — with very little accountability. That allows the powerful to get away with almost anything. Where a judge in one State bans all protest rallies on weekdays because his car got stuck in a rally on the way to work. Where sundry godmen can break every tax law — so long as they don't challenge the ruling regime.
Tackling corruption without addressing its sources is like trying to mop the floor dry — with all taps open and running. The sources are old. Their (man-made) scope, size and damage are pretty new.
The past 20 years have seen unprecedented concentrations of wealth, often by awful means, mostly enabled by economic policy. The state stands reduced to a tool of corporate enrichment. It is there to facilitate private investment. Each budget is written for (and partly by) the corporate world. The last six budgets have gifted the corporates Rs.21 lakh crore in concessions on just direct corporate income tax, customs and excise duties. In the same period, food subsidies and agriculture have suffered cuts.
The neo-liberal economic framework assigns the state the role of wet nursing the corporate sector at public cost. This is why we live in the age of privatisation of just about everything. It is the state's mission to hand over scarce national resources of all kinds, land, water, spectrum, anything, to further bloat corporate profits. It is this process of peddling a nation's resources to private agents on preferential terms that is the main source of corruption in our time. The scams are the symptoms; a state that serves corporations, not citizens, is the disease.
Those who rightly worry about election spending also need to make other connections. There is a class of people which has much more to spend — and illicit funds to spend from. At levels unheard of since 1947. In many States, you cannot hope to contest an election without being a crorepati.
Take the case of 825 MLAs elected this May to the legislatures of four States, one Union Territory (and the bypoll in Kadapa.) Look at their declared assets. Thanks to the alert National Election Watch (NEW), a coalition of over 1200 NGOs spearheaded by the Association for Democratic Reforms (ADR), we have data that are fun to analyse.
The ADR data tell us that the total self-declared value of these 825 MLAs is around Rs.2,128 crore. As many as 231 of these MLAs are into their second term. They increased their assets by 169 per cent on average, between 2006 and 2011. That is, they may well have collared more wealth in their first five-year terms than they had acquired in the rest of their lives.
Now think of 825 landless labour households. We cannot compare their ‘assets' with those of the MLAs since the landless households have none and are drowning in debt. How long would it take, working on the MGNREGS for instance, for them to earn money equalling the wealth of the 825 MLAs?
The most they can make in the 100 days of work the MGNREGS grants them is — on national average — around Rs. 12,600 a year. The 825 landless households would require over 2,000 years to touch that Rs. 2,128-crore mark. And they'd need to abandon frivolous habits like eating. But let's make that 10,000 labour households. They would need close to 170 years to hit the jackpot. Even a million households would take well over a year to get close. (Recall that over a fourth of those MLAs acquired most of their assets in 60 months.)
Of course, given the profound inequalities, the labourer households will never have any assets, leave alone Rs.2,128-crore worth. They will remain indebted. And the interest they will pay off on those debts will likely add to the assets of the MLAs — some of whom are moneylenders. Yet the wealth of those MLAs is paltry compared to the huge state-led enrichment of the corporate world. It would take a million labourer households around 275 years on the MGNREGS to earn the Rs.3.5 lakh crore the government has doled out on annual average in the past six years to the corporate sector.
And then there's the impunity. Dr. Singh can juggle his Cabinet, but will it change much? An Agriculture Minister who spent more time on cricket — and helped transform that national passion into a tawdry, commercial swamp of sleaze. (At the time of writing, another wicket, that of the Textiles Minister, has fallen in this regime's precarious second innings.) Another, the Minister of Heavy Industries, shamed by the Supreme Court for helping moneylenders — then promptly promoted to Rural Development Minister. Even if dumped, their replacements, however youthful, won't alter that. For it isn't about lax governance or poor rules only. It's about corrupt policies.
Want to fight corruption in our time? Move to dismantle structural inequality, the disease of neo-liberal economic policy and the culture of arbitrariness without accountability. Do we need a Lokpal? Yes. Should it be a supra-government? Above constitutional structures and answerable to no one? You're begging for trouble. Can it tame the Trimurti of inequality, economic policy and arbitrariness? No. It's not geared towards that. That's a larger battle for people as a whole and their institutions. As the old saw goes, your rights are only as secure as the process by which you defend them.
At this moment battles rage across the country over displacement, forced land acquisition, the rape of resources, over forest and other rights. These may be ‘local' battles but they challenge corruption on a large, even global, canvas. They are fighting inequality and discrimination. They resist impunity, greed and profit. They try to hold their rulers accountable. Some fight unjust laws (as in the case of Irom Sharmila). Others for the just application of laws (as with some forest rights struggles). Almost none, however, place themselves above the nation. Or declare that they will lay down laws which others must obey. Nor assert that they are answerable to no one. Yet, they fight for their rights and ours too and help make oppressive structures more accountable.
There's a little amnesia on this. A corrupt and effete government and the Congress party know that well. Barely 36 years ago, a man placed himself above all structures of the Constitution. A one-man supra-government. It's sad to recall how many PLUs, middle class people and even some intellectuals wound up cheering this man and his era. His name was Sanjay Gandhi and the period was called the Emergency. The rest is history
APPEAL TO CHIEF JUSTICE OF HIGH COURT OF KARNATAKA AND JOINT SECRETARY OF MINISTRY OF FINANCE FOR DENIAL OF FRESH PENSION OPTION TO VOLUNTARILY RETIRED OFFICERS AND WRIT PETITIONS
by
A P Pai [synd_man@hotmail.com]
Enclosed are letters written by me to the Banking division, Ministry of Finance, Govt of India and to the Chief Justice respectively on the above subject. In my earlier communication, I had requested you to contact the known members of Parliament or the officials of Govt/RBI personally so that they take up our issue in the course of question hour or write to the concerned ministry for early redressal.
I now request you to make use of news paper media by an article to highlight the injustice done, if at all any one of you have good rapport with such agencies. In short, what is needed is not only option for pension but also public awareness as to the credibility of Indian Banks Association and incapacity of the officials of Public Sector Banks to understand independently what is right and what is wrong
It is very painful to find from the website that except one batch of writ petitions filed by the retiree officers of Canara Bank, all other petitions are not admitted so far. Banks have not yet appointed advocates. No reply is filed. Even in the case of Canara Bank petition, none of the advocates appeared on two occasions. This status is contrary to the impression given to the petitioners that the final decision by the court is due by this month end. This kind of progress of the cases is not in our interest.
It is not correct to say that the petitions need not be got admitted by the court after issue of notice, vakalathnamas and counter objection statements need not be filed by the respondents or even without compliance of these mandatory requirements our cases automatically gets connected to the petition filed by Canara Bank retiress etc. There is no use in blaming the court.
Please do not dream for a second that Trade Union Leaders( present or past), lawyers ( our own or oppoiste) Banks( for whom we served throughout our younger days), officers still in service or pensioners of special VRS 2001,Govr and the cunning IBA will try to help us. We should not forget that we are living in a self centered society. No trade union will agitate or give a strike call on our behalf even if any such call is given, there will not be any response from the serving officers. Therefore it is upto us to keep vigilant and foil all attempts of banks, Govt and IBA who are only interested in prolonging disposal of writ petitions. It is required to being home every time to our lawyer that all the petitioners are senior citizens/restless.
Place : Udupi
Date : 28/06/2011
Regd AD
To
The Chief Justice of
High Court of Karnataka
Bangalore.
Honourable Sir,
Sub: Writ Petition filed by Senior Citizens.
In the following writ petitions pending before High court of Karnataka all the petitioners are senior citizens. But some of the respondents who are all financialy powerful and administratively strong not even filed Vakalath let alone filing statement of objections because cases are not listed after the notices are served. Whereas all the petitioners are financially weak and are in the last leg of their life and some of them are sickly counting days of remaining span of life who are in the range of 65 to 70 years of age.
Writ Petition Nos Filed on
I. 40431 to 40461 of 2010 13/12/2010
II. 122 to 135 of 2011 01/01/2011
III. 32475 to 32602 of 2010 08/10/2010
IV. 5294 of 2011 27/01/2011
V. 7718 to 7746 of 2011 18/02/2011
VI. 7898 to 7899 of 2011 19/02/2011
Vii 40850to 40917 of 2010 15/12/2010
Notices are already served on all the respondents i.e. Public Sector Banks, Indian Banks Association and Government of India. The common dispute involved in all the above petitions is arbitrary denial of pension to one section of retiree officers of Public Sector Banks created by artificial classification without any nexus to the scheme of pension introduced by the banks with retrospective effect. Thus most of the retirees are now senior citizens.
I do not know whether it is proper for any citizen to enter into correspondence with the Chief Justice on any matter. I am one of the petitioners in the above petitions. I have already knocked the doors of the concerned bank, Indian Banks Association, Government of India and Reserve Bank of India seeking their assistance but without any result. Having been thus pushed to the walls, I have suddenly become bold to seek your help to get the above writ petitions disposed with least delay. Information given to me by my friends is that you have already given general advice to your companion judges and the Registrar to take steps for dispensing justice to senior citizens in general expeditiously is another reason for writing this letter to you.
I pray to you to issue specific instructions to the concerned who deal with the above cases to take steps for early disposal.
I may please be pardoned, if unknowingly, I have offended the protocol of judicial system. I have written this letter as I am not keeping well and anxious to see the light of justice before my last breath.
Thanking you,
Yours faithfully,
(A Premananda Pai).
'ANJANA' Ist Cross, 5th Main Road
V P Nagar, Udupi - 576 102. (Karnataka).
Phone No. 0820 4293120
Mobile No. 94490 49041.
E
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Suggestion for better Planning
Government of India has expressed desire to seek suggestions and views from public to bring about reformation in planning and they have uploaded a discussion icon on t website of Planning Commission.
What is the use of seeking suggestions from public?
Any reformation is incomplete as long as human values are ignored and disrespected. Corruption can never be controlled by corrupt officers. Justice cannot be expected in time from corrupt judges. Corrupt ministers can never ensure good governance. Corrupt Chartered Accountants cannot stop malafide transactions and fraud in financial statements. Corrupt lawyers cannot ensure timely justice with the victim. Corrupt ministers and corrupt departmental heads cannot allow good officers to remain in and around his work place.
Economic reformation launched in1991 has helped in multiplying and aggravating the proportion of corruption in public life. Businessmen are given absolute freedom to earn profit as much as they like and this is the main reason behind relentless price rise and this is why price rise has gone beyond control of the administration and the government.
Labour reforms or judicial reforms are disliked by all politicians who believe in earning illegal money.
It is therefore not an exaggeration to say that none of the offices responsible for looking after welfare of working class is doing their job properly. It is bitter but undeniable truth.
Bribe based recruitment,whimsical transfer with malafide intention, bribe based promotion, forgery in examination, sale of examination question papers of all important examinations , bribe based setting with interviewers to pass the test, use of lobby to get good posting and before time promotion and so on , all these have become common and usual style of functioning and characteristics of all public organizations. Good employees are sidelined and corrupt employees are getting preferences in all government offices, Banks and PSUs.
Flattery and dishonesty has become the key to success in all fields.
In such position there is no use in framing policy or formulating attractive plans or asking for suggestions from the public to bring about reformation.
Until top ranked officers, ministers, public representatives, politicians and government staff in general become honest and patriot Indians cannot dream of getting justice in any field.
To add fuel to fire, Indian judiciary is corrupt, inactive and inefficient .It takes decades in getting judgments from courts in India. There is lack of adequate quality manpower in courts and hence lacs and cores of cases are allowed to remain pending for years together. Justice delayed is justice denied. Aggrieved person do not like to seek remedy from police department or judiciary. Everywhere bribe money plays the prominent role. In such position courts are used to perpetrate crime and carry out rule of injustice.
Even offices of Prime Minister and President of India do not listen to public grievances, not to speak of other offices meant to make effort for redressal of public grievances though there are several such departments. All such departments are working as forwarding agents or as manufacturerers of money. They simple forward the letter or complain to concerned office and sleep. None is at all bothered to serve the people though there are called public servants
What is the need of Interview or discretion in recruitment or promotion when most of the officers are corrupt?
What is the value of annual or periodical appraisal of employees or carrying out test for promotion when conducting officials are themselves corrupt .Who cares for merit?
None indeed.
All top officers keep flatterers and corrupt officials around them to earn more and more bribe and accumulate wealth as much as possible.
Central Government is allowing time bound promotion and seniority based promotion to staff. Why Public Sector 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.
Are banks top executive earning money in recruitment, posting and promotion like other government departments?
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?
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.
Are all these possible due to strong lobby of corrupt officials?
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.
This is the story of practically all departments under the control of the government. Everywhere criminals and defaulters are respected and given recognition.
After all why is PM silent on all vital issues related to erosion in human values?
Prime Minister wrote letters to Telecom Minister but did not act to ensure that his advice is followed in true spirit. Nation lost lacs of crores of rupees.
Is mere writing of letter or forwarding of letter to concerned officer or office enough to bring about reformation?
PM allowed Kalmadi to spend 70000/ crores of rupees and could not stop malpractice despite the fact that media highlighted various irregularities.PM allowed deal with Devos on S band and later annulled the same in fear of public anger.
PM has allowed public sector banks to increase NPA or conceal NPA or sell NPA in the name of banking reformation and causing loss after loss to bank in lacs of crores of rupees.
To add fuel to fire PM allows debt waiver of forces banks to opt for compromise and sacrifice bank’s assets.
What is happening in this country after all?
Who will save this country from corrupt people?
Can such PM be allowed to cause one after other losses only due to constraints of coalition government? Is it coalition religion to survive in power?
I would like to advice our honorable PM not to malign at least the word religion. Because none of the religions in universe will allow theft of money, or disrespect to human being or compromise with human values. Manmohan Singh should say that corruption is an art used by politicians to acquire or to remain in power.
If Prime Minister of the country can allow corrupt practices, how can he dream of good governance in other offices of central or state government?
How will our learned PM then punish corrupt people as he has been promising since long?
http://www.thehindu.com/opinion/lead/article2208331.ece
http://www.allbankingsolutions.com/Appeal-to-CJ-HC-Karnataka-Joint-Secretary-MOF.htm
Article by Sri P. Sainath published in
The Hindu on 8th Of July 2011
As we close in on 20 years of Manmohanomics, it's worth remembering one chant the chattering classes uttered, first with pride, later to console themselves. “Whatever you say, we have the most honest man in Dr. Manmohan Singh. And no one can speak a word against him.” It's less heard now — those affections having been transferred to other punters in the honesty sweepstakes. But growing numbers do say this daily: the honest Prime Minister presides over indisputably the most corrupt government in our history. And therein lie many lessons.
Dr. Singh's decision to meet weekly with editors tells us which lesson he has drawn from the mess. That his government's problem with corruption is a public relations one. This even though the media, while barking at politicians in the 2G scam, have steered clear of the corporate core of all such rackets. Dr. Singh sees the media acting too often as “accuser, prosecutor and judge.” (He may have got that one right). Yet, he wants a weekly meeting with them. So is this a PR exercise? Or does he believe India's editors possess a wisdom unknown to others that will end corruption in all sectors (bar their own)? I hope the former.
Totting up his government's scams is like a Census operation. A large and complex count. There are scams done and buried, there are those alive and breathing. More are exhumed by the day. There are others in the pipeline, about to be pulled off. Still others where the media remain helpfully silent. And yet more in planning and process. We have a Union Cabinet that is possibly richer (at over Rs.500 crore) than most earlier Cabinets put together. And in spirit, reminiscent of the bungling mob in Jimmy Breslin's 1969 book The Gang That Couldn't Shoot Straight. Only this mob rakes it in where Breslin's collapsed swiftly. And this crowd runs a large country, not a few blocks in New York.
There are of course many causes of corruption and everyone has his or her favourite story. But there are three sources which, if ignored, render analysis worthless. One: the structural inequalities of Indian society, including huge concentrations of wealth and power, class and caste, gender and other embedded discrimination. Two: the whole edifice of economic policy that has (more rapidly in the past 20 years) deepened, driven and legitimised those inequalities. That has, for instance, made corporations far more important than citizens, mocking the Constitution. And three: the culture of impunity and arbitrariness — with very little accountability. That allows the powerful to get away with almost anything. Where a judge in one State bans all protest rallies on weekdays because his car got stuck in a rally on the way to work. Where sundry godmen can break every tax law — so long as they don't challenge the ruling regime.
Tackling corruption without addressing its sources is like trying to mop the floor dry — with all taps open and running. The sources are old. Their (man-made) scope, size and damage are pretty new.
The past 20 years have seen unprecedented concentrations of wealth, often by awful means, mostly enabled by economic policy. The state stands reduced to a tool of corporate enrichment. It is there to facilitate private investment. Each budget is written for (and partly by) the corporate world. The last six budgets have gifted the corporates Rs.21 lakh crore in concessions on just direct corporate income tax, customs and excise duties. In the same period, food subsidies and agriculture have suffered cuts.
The neo-liberal economic framework assigns the state the role of wet nursing the corporate sector at public cost. This is why we live in the age of privatisation of just about everything. It is the state's mission to hand over scarce national resources of all kinds, land, water, spectrum, anything, to further bloat corporate profits. It is this process of peddling a nation's resources to private agents on preferential terms that is the main source of corruption in our time. The scams are the symptoms; a state that serves corporations, not citizens, is the disease.
Those who rightly worry about election spending also need to make other connections. There is a class of people which has much more to spend — and illicit funds to spend from. At levels unheard of since 1947. In many States, you cannot hope to contest an election without being a crorepati.
Take the case of 825 MLAs elected this May to the legislatures of four States, one Union Territory (and the bypoll in Kadapa.) Look at their declared assets. Thanks to the alert National Election Watch (NEW), a coalition of over 1200 NGOs spearheaded by the Association for Democratic Reforms (ADR), we have data that are fun to analyse.
The ADR data tell us that the total self-declared value of these 825 MLAs is around Rs.2,128 crore. As many as 231 of these MLAs are into their second term. They increased their assets by 169 per cent on average, between 2006 and 2011. That is, they may well have collared more wealth in their first five-year terms than they had acquired in the rest of their lives.
Now think of 825 landless labour households. We cannot compare their ‘assets' with those of the MLAs since the landless households have none and are drowning in debt. How long would it take, working on the MGNREGS for instance, for them to earn money equalling the wealth of the 825 MLAs?
The most they can make in the 100 days of work the MGNREGS grants them is — on national average — around Rs. 12,600 a year. The 825 landless households would require over 2,000 years to touch that Rs. 2,128-crore mark. And they'd need to abandon frivolous habits like eating. But let's make that 10,000 labour households. They would need close to 170 years to hit the jackpot. Even a million households would take well over a year to get close. (Recall that over a fourth of those MLAs acquired most of their assets in 60 months.)
Of course, given the profound inequalities, the labourer households will never have any assets, leave alone Rs.2,128-crore worth. They will remain indebted. And the interest they will pay off on those debts will likely add to the assets of the MLAs — some of whom are moneylenders. Yet the wealth of those MLAs is paltry compared to the huge state-led enrichment of the corporate world. It would take a million labourer households around 275 years on the MGNREGS to earn the Rs.3.5 lakh crore the government has doled out on annual average in the past six years to the corporate sector.
And then there's the impunity. Dr. Singh can juggle his Cabinet, but will it change much? An Agriculture Minister who spent more time on cricket — and helped transform that national passion into a tawdry, commercial swamp of sleaze. (At the time of writing, another wicket, that of the Textiles Minister, has fallen in this regime's precarious second innings.) Another, the Minister of Heavy Industries, shamed by the Supreme Court for helping moneylenders — then promptly promoted to Rural Development Minister. Even if dumped, their replacements, however youthful, won't alter that. For it isn't about lax governance or poor rules only. It's about corrupt policies.
Want to fight corruption in our time? Move to dismantle structural inequality, the disease of neo-liberal economic policy and the culture of arbitrariness without accountability. Do we need a Lokpal? Yes. Should it be a supra-government? Above constitutional structures and answerable to no one? You're begging for trouble. Can it tame the Trimurti of inequality, economic policy and arbitrariness? No. It's not geared towards that. That's a larger battle for people as a whole and their institutions. As the old saw goes, your rights are only as secure as the process by which you defend them.
At this moment battles rage across the country over displacement, forced land acquisition, the rape of resources, over forest and other rights. These may be ‘local' battles but they challenge corruption on a large, even global, canvas. They are fighting inequality and discrimination. They resist impunity, greed and profit. They try to hold their rulers accountable. Some fight unjust laws (as in the case of Irom Sharmila). Others for the just application of laws (as with some forest rights struggles). Almost none, however, place themselves above the nation. Or declare that they will lay down laws which others must obey. Nor assert that they are answerable to no one. Yet, they fight for their rights and ours too and help make oppressive structures more accountable.
There's a little amnesia on this. A corrupt and effete government and the Congress party know that well. Barely 36 years ago, a man placed himself above all structures of the Constitution. A one-man supra-government. It's sad to recall how many PLUs, middle class people and even some intellectuals wound up cheering this man and his era. His name was Sanjay Gandhi and the period was called the Emergency. The rest is history
Second articles is an experience of victim of the system
APPEAL TO CHIEF JUSTICE OF HIGH COURT OF KARNATAKA AND JOINT SECRETARY OF MINISTRY OF FINANCE FOR DENIAL OF FRESH PENSION OPTION TO VOLUNTARILY RETIRED OFFICERS AND WRIT PETITIONS
by
A P Pai [synd_man@hotmail.com]
Enclosed are letters written by me to the Banking division, Ministry of Finance, Govt of India and to the Chief Justice respectively on the above subject. In my earlier communication, I had requested you to contact the known members of Parliament or the officials of Govt/RBI personally so that they take up our issue in the course of question hour or write to the concerned ministry for early redressal.
I now request you to make use of news paper media by an article to highlight the injustice done, if at all any one of you have good rapport with such agencies. In short, what is needed is not only option for pension but also public awareness as to the credibility of Indian Banks Association and incapacity of the officials of Public Sector Banks to understand independently what is right and what is wrong
It is very painful to find from the website that except one batch of writ petitions filed by the retiree officers of Canara Bank, all other petitions are not admitted so far. Banks have not yet appointed advocates. No reply is filed. Even in the case of Canara Bank petition, none of the advocates appeared on two occasions. This status is contrary to the impression given to the petitioners that the final decision by the court is due by this month end. This kind of progress of the cases is not in our interest.
It is not correct to say that the petitions need not be got admitted by the court after issue of notice, vakalathnamas and counter objection statements need not be filed by the respondents or even without compliance of these mandatory requirements our cases automatically gets connected to the petition filed by Canara Bank retiress etc. There is no use in blaming the court.
Please do not dream for a second that Trade Union Leaders( present or past), lawyers ( our own or oppoiste) Banks( for whom we served throughout our younger days), officers still in service or pensioners of special VRS 2001,Govr and the cunning IBA will try to help us. We should not forget that we are living in a self centered society. No trade union will agitate or give a strike call on our behalf even if any such call is given, there will not be any response from the serving officers. Therefore it is upto us to keep vigilant and foil all attempts of banks, Govt and IBA who are only interested in prolonging disposal of writ petitions. It is required to being home every time to our lawyer that all the petitioners are senior citizens/restless.
Place : Udupi
Date : 28/06/2011
Regd AD
To
The Chief Justice of
High Court of Karnataka
Bangalore.
Honourable Sir,
Sub: Writ Petition filed by Senior Citizens.
In the following writ petitions pending before High court of Karnataka all the petitioners are senior citizens. But some of the respondents who are all financialy powerful and administratively strong not even filed Vakalath let alone filing statement of objections because cases are not listed after the notices are served. Whereas all the petitioners are financially weak and are in the last leg of their life and some of them are sickly counting days of remaining span of life who are in the range of 65 to 70 years of age.
Writ Petition Nos Filed on
I. 40431 to 40461 of 2010 13/12/2010
II. 122 to 135 of 2011 01/01/2011
III. 32475 to 32602 of 2010 08/10/2010
IV. 5294 of 2011 27/01/2011
V. 7718 to 7746 of 2011 18/02/2011
VI. 7898 to 7899 of 2011 19/02/2011
Vii 40850to 40917 of 2010 15/12/2010
Notices are already served on all the respondents i.e. Public Sector Banks, Indian Banks Association and Government of India. The common dispute involved in all the above petitions is arbitrary denial of pension to one section of retiree officers of Public Sector Banks created by artificial classification without any nexus to the scheme of pension introduced by the banks with retrospective effect. Thus most of the retirees are now senior citizens.
I do not know whether it is proper for any citizen to enter into correspondence with the Chief Justice on any matter. I am one of the petitioners in the above petitions. I have already knocked the doors of the concerned bank, Indian Banks Association, Government of India and Reserve Bank of India seeking their assistance but without any result. Having been thus pushed to the walls, I have suddenly become bold to seek your help to get the above writ petitions disposed with least delay. Information given to me by my friends is that you have already given general advice to your companion judges and the Registrar to take steps for dispensing justice to senior citizens in general expeditiously is another reason for writing this letter to you.
I pray to you to issue specific instructions to the concerned who deal with the above cases to take steps for early disposal.
I may please be pardoned, if unknowingly, I have offended the protocol of judicial system. I have written this letter as I am not keeping well and anxious to see the light of justice before my last breath.
Thanking you,
Yours faithfully,
(A Premananda Pai).
'ANJANA' Ist Cross, 5th Main Road
V P Nagar, Udupi - 576 102. (Karnataka).
Phone No. 0820 4293120
Mobile No. 94490 49041.
E
0 commentsPosted in PoliticsTagged as inequality, arbitrary whimsical and lack of transparency, consitution, reformation, globlisation, and privatisation
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Suggestion for better Planning
Government of India has expressed desire to seek suggestions and views from public to bring about reformation in planning and they have uploaded a discussion icon on t website of Planning Commission.
What is the use of seeking suggestions from public?
Any reformation is incomplete as long as human values are ignored and disrespected. Corruption can never be controlled by corrupt officers. Justice cannot be expected in time from corrupt judges. Corrupt ministers can never ensure good governance. Corrupt Chartered Accountants cannot stop malafide transactions and fraud in financial statements. Corrupt lawyers cannot ensure timely justice with the victim. Corrupt ministers and corrupt departmental heads cannot allow good officers to remain in and around his work place.
Economic reformation launched in1991 has helped in multiplying and aggravating the proportion of corruption in public life. Businessmen are given absolute freedom to earn profit as much as they like and this is the main reason behind relentless price rise and this is why price rise has gone beyond control of the administration and the government.
Labour reforms or judicial reforms are disliked by all politicians who believe in earning illegal money.
It is therefore not an exaggeration to say that none of the offices responsible for looking after welfare of working class is doing their job properly. It is bitter but undeniable truth.
Bribe based recruitment,whimsical transfer with malafide intention, bribe based promotion, forgery in examination, sale of examination question papers of all important examinations , bribe based setting with interviewers to pass the test, use of lobby to get good posting and before time promotion and so on , all these have become common and usual style of functioning and characteristics of all public organizations. Good employees are sidelined and corrupt employees are getting preferences in all government offices, Banks and PSUs.
Flattery and dishonesty has become the key to success in all fields.
In such position there is no use in framing policy or formulating attractive plans or asking for suggestions from the public to bring about reformation.
Until top ranked officers, ministers, public representatives, politicians and government staff in general become honest and patriot Indians cannot dream of getting justice in any field.
To add fuel to fire, Indian judiciary is corrupt, inactive and inefficient .It takes decades in getting judgments from courts in India. There is lack of adequate quality manpower in courts and hence lacs and cores of cases are allowed to remain pending for years together. Justice delayed is justice denied. Aggrieved person do not like to seek remedy from police department or judiciary. Everywhere bribe money plays the prominent role. In such position courts are used to perpetrate crime and carry out rule of injustice.
Even offices of Prime Minister and President of India do not listen to public grievances, not to speak of other offices meant to make effort for redressal of public grievances though there are several such departments. All such departments are working as forwarding agents or as manufacturerers of money. They simple forward the letter or complain to concerned office and sleep. None is at all bothered to serve the people though there are called public servants
What is the need of Interview or discretion in recruitment or promotion when most of the officers are corrupt?
What is the value of annual or periodical appraisal of employees or carrying out test for promotion when conducting officials are themselves corrupt .Who cares for merit?
None indeed.
All top officers keep flatterers and corrupt officials around them to earn more and more bribe and accumulate wealth as much as possible.
Central Government is allowing time bound promotion and seniority based promotion to staff. Why Public Sector 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.
Are banks top executive earning money in recruitment, posting and promotion like other government departments?
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?
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.
Are all these possible due to strong lobby of corrupt officials?
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.
This is the story of practically all departments under the control of the government. Everywhere criminals and defaulters are respected and given recognition.
After all why is PM silent on all vital issues related to erosion in human values?
Prime Minister wrote letters to Telecom Minister but did not act to ensure that his advice is followed in true spirit. Nation lost lacs of crores of rupees.
Is mere writing of letter or forwarding of letter to concerned officer or office enough to bring about reformation?
PM allowed Kalmadi to spend 70000/ crores of rupees and could not stop malpractice despite the fact that media highlighted various irregularities.PM allowed deal with Devos on S band and later annulled the same in fear of public anger.
PM has allowed public sector banks to increase NPA or conceal NPA or sell NPA in the name of banking reformation and causing loss after loss to bank in lacs of crores of rupees.
To add fuel to fire PM allows debt waiver of forces banks to opt for compromise and sacrifice bank’s assets.
What is happening in this country after all?
Who will save this country from corrupt people?
Can such PM be allowed to cause one after other losses only due to constraints of coalition government? Is it coalition religion to survive in power?
I would like to advice our honorable PM not to malign at least the word religion. Because none of the religions in universe will allow theft of money, or disrespect to human being or compromise with human values. Manmohan Singh should say that corruption is an art used by politicians to acquire or to remain in power.
If Prime Minister of the country can allow corrupt practices, how can he dream of good governance in other offices of central or state government?
How will our learned PM then punish corrupt people as he has been promising since long?
PM is an honest man
The PM is an honest man and a brilliant economist too!
M R Venkatesh
(collected from Rediff .com on12.07.2011)
The media advisors of the prime minister must be credited, at least for this one.
They have been more or less successful till date in Teflon-coating the image of prime minister from the endless allegations of corruption that seems to rock his government.
Most critics, commentators or TV anchors virtually begin his or her criticism of the government by first conceding that the prime minister is 'personally' an honest person.
This repeated assertion by the vast sections of the media seems to have its desired effect even on the political adversaries of the prime minister, both within the Congress party and outside.
Invariably, in all debates, they readily concede that the prime minister is an honest man, while simultaneously attacking his Cabinet colleagues for their acts of omissions and commissions.
Madhu Purnima Kishwar captured this paradox brilliantly in her article, 'Honestly Speaking', in Outlook. She states, "I fail to understand why almost every commentator, every TV anchor, every editorial writer feels compelled to pay ritual obeisance to the 'personal honesty and integrity' of Dr Manmohan Singh."
Importantly, she adds, "Corruption is not only about personally accepting monetary bribes and stacking them away in hidden bank accounts overseas, buying benami properties or accepting diamond sets for your wife. Corruption can come in insidious avatars, such as knowingly turning a blind eye to the misuse of the entire machinery of governance to serve private ends of a few individuals, even to the point of endangering national security."
And therein lays the rub. Increasingly questions are being raised as to why the prime minister turned a Nelson's eye to numerous instances of corruption even when they were brought to his notice, sometimes by his own party members?
Is there a tacit understanding between the prime minister and some of his Cabinet colleagues -- you continue to support me and I will be unmindful of your loot?
Crony capitalism and its links with politics
But there is another dimension to this entire debate. Inadvertently, by repeatedly telling us that the prime minister is personally honest, his media managers by default have significantly dented the image of the Union Cabinet and the credibility of the government of India.
Increasingly the 'personally honest' prime minister seems to be like a pontiff amongst robber barons. Who said you are known by the company you keep?
More to the point, coalition politics of the past two decades or so has given rise to something sinister. While the spokespersons of every political party in power repeatedly assert that Cabinet formation is the sole prerogative of the prime minister, even a layman would know that, in the Indian context, it is in effect a bargain between political groups representing various economic interests.
Economists term this marriage of convenience between politics and economics as crony capitalism -- a situation where business interests of the high and the mighty are interlinked, intertwined and integrated to political interests.
Delivering a lecture while inaugurating the Institute for Studies in Industrial Development, Manmohan Singh observed: "I was struck recently by a comment in the media that most of the billionaires among India's top business leaders operate in oligopolistic markets, and in sectors where the government has conferred special privileges on a few."
The prime minister went on to add several rhetorical questions on this fascinating subject. "This sounds like crony capitalism. Are we encouraging crony capitalism? Is this a necessary but transient phase in the development of modern capitalism in our country? Are we doing enough to protect consumers and small businesses from the consequences of crony capitalism? Have we, in the name of protecting them, encouraged crony capitalism? Do we have a genuine level playing field for all businesses? What should be done to inject a greater degree of competitiveness in the industrial sector?"
Good questions. In fact, brilliant ones! But what should be more interesting is the timing of these questions -- this lecture was delivered on the first of May, 2007. This, more or less, coincided with the ouster of Dayanidhi Maran from the Union Cabinet for the first time, not on charges of crony capitalism, but ostensibly on account of a bitter family feud within the DMK family.
Maran, as the reader would know, was subsequently replaced by A Raja following the intervention of the DMK patriarch M Karunanidhi. So much for the prerogative of the prime minister to appoint ministers to his Cabinet in this era of coalition!
But the issue is not merely to choosing ministers or dropping them under coalition compulsions or family feuds.
Crucially, it applies to securing portfolios of 'commercial interests' (and not political interests) of political party, its leaders or bigwigs.
Recall the Nira Radia tapes. Raja was not anxious to know whether he would become a Cabinet minister; he was anxious to know whether he would become the telecommunication minister. The reason for the same is obvious.
India is in its nascent stage of liberalisation. Much as the role of the government is waning in the economic sphere, the fact remains that the government is and will continue to be entrusted with the task of policy formulation.
What better idea than to capture the policy formulation space for the benefit of personal business interests or to ensure that it is used to kill competition?
A famous example in the United States was the Interstate Commerce Commission, which was established as early as in 1887 to regulate the railroad 'robber barons'.
Instead, it quickly became controlled by the railroads, which set up a permit system that was used to deny access to new entrants and functionally legalised price fixing!
Given the political paradigm prevailing in India, it is extremely tempting for players to enter the policy formulation space and use it against business competitors. People enter politics with a clear intention to further their economic interests, not otherwise.
In the process, increasingly, the Union Cabinet resembles diverse business interests (beginning A for Agriculture to U for Urban Affairs) headed, of course, by an honest prime minister.
Maran and crony capitalism
What is missed in the melee by the media managers of the prime minister is the fact that there is nothing 'personal' in public life. Either one is honest or dishonest in public life with virtually no third alternative.
This compartmentalisation of honesty and circumscribing it as personal is neither feasible in public life nor desirable.
Nothing illustrates this paradigm better than the latest Maran-Maxis imbroglio. It may be recalled that when Maran was appointed to the Union Cabinet as the telecommunications minister eyebrows were raised.
By 2006 it was public knowledge that Maran was attempting to use his office and derail the business plan of Tata Group as the Sun group (owned by his brother) was competing with the Tatas.
L'affaire Maxis which ultimately led to the resignation of Maran from the Union Cabinet last week is seen by many as textbook definition of crony capitalism. The allegation that Maran denied spectrum to Aircel and thereby put brakes on its business expansion plans is as old as the Sun (pun unintended).
Disillusioned by the turn of events, the then owner of Aircel divested his stakes in favour of Maxis.
Once Aircel changed hands, it is alleged, spectrum hitherto denied was instantly made available to Aircel. And in return for the favour, the Maxis group is rumored to have invested into certain Sun group companies (which even to this date are making losses) at exorbitant premiums.
Naturally questions arise. Was the prime minister aware of Maran's, and by extension his brother's, business interests? Was he aware as to the allegations made by several business groups -- available in public domain -- as to how Maran misused his official position to derail business plan of rival business groups?
In fact, as pointed out, Maran continued to occupy the office of Union telecommunications minister till May 2007. He resigned, not because he lost the confidence and backing of the prime minister, but because of the family feud.
The sequence of events during his term in office, however, suggests that crony capitalism flourished then. And it is precisely in these situations the prime minister should have stopped lamenting about crony capitalism through lectures and demonstrated his understanding of economics and personal honesty through direct actions and decisive interventions. Yet, he chose not to.
Having lost several chances to 'publicly' demonstrate his 'personal honesty', the prime minister's image managers face a Hobson's choice now -- if they do nothing, they are accused of apathy and if they do something, it is pure hyperbole.
Seems like quite a fall for a man who is the architect of the economic reforms in India and has been largely instrumental in dismantling the license-quota-permit raj of the pre-liberalisation era.
PS: As questions arise on the prime minister's understanding of economics, his media managers probably need to attempt one more: the prime minister is a brilliant economist too!
The author is a Chennai-based Chartered Accountant. Comments can be sent to mrv@mrv.net.in
Or if you like you can send it to vivek@callforjustice.in
M R Venkatesh
(collected from Rediff .com on12.07.2011)
The media advisors of the prime minister must be credited, at least for this one.
They have been more or less successful till date in Teflon-coating the image of prime minister from the endless allegations of corruption that seems to rock his government.
Most critics, commentators or TV anchors virtually begin his or her criticism of the government by first conceding that the prime minister is 'personally' an honest person.
This repeated assertion by the vast sections of the media seems to have its desired effect even on the political adversaries of the prime minister, both within the Congress party and outside.
Invariably, in all debates, they readily concede that the prime minister is an honest man, while simultaneously attacking his Cabinet colleagues for their acts of omissions and commissions.
Madhu Purnima Kishwar captured this paradox brilliantly in her article, 'Honestly Speaking', in Outlook. She states, "I fail to understand why almost every commentator, every TV anchor, every editorial writer feels compelled to pay ritual obeisance to the 'personal honesty and integrity' of Dr Manmohan Singh."
Importantly, she adds, "Corruption is not only about personally accepting monetary bribes and stacking them away in hidden bank accounts overseas, buying benami properties or accepting diamond sets for your wife. Corruption can come in insidious avatars, such as knowingly turning a blind eye to the misuse of the entire machinery of governance to serve private ends of a few individuals, even to the point of endangering national security."
And therein lays the rub. Increasingly questions are being raised as to why the prime minister turned a Nelson's eye to numerous instances of corruption even when they were brought to his notice, sometimes by his own party members?
Is there a tacit understanding between the prime minister and some of his Cabinet colleagues -- you continue to support me and I will be unmindful of your loot?
Crony capitalism and its links with politics
But there is another dimension to this entire debate. Inadvertently, by repeatedly telling us that the prime minister is personally honest, his media managers by default have significantly dented the image of the Union Cabinet and the credibility of the government of India.
Increasingly the 'personally honest' prime minister seems to be like a pontiff amongst robber barons. Who said you are known by the company you keep?
More to the point, coalition politics of the past two decades or so has given rise to something sinister. While the spokespersons of every political party in power repeatedly assert that Cabinet formation is the sole prerogative of the prime minister, even a layman would know that, in the Indian context, it is in effect a bargain between political groups representing various economic interests.
Economists term this marriage of convenience between politics and economics as crony capitalism -- a situation where business interests of the high and the mighty are interlinked, intertwined and integrated to political interests.
Delivering a lecture while inaugurating the Institute for Studies in Industrial Development, Manmohan Singh observed: "I was struck recently by a comment in the media that most of the billionaires among India's top business leaders operate in oligopolistic markets, and in sectors where the government has conferred special privileges on a few."
The prime minister went on to add several rhetorical questions on this fascinating subject. "This sounds like crony capitalism. Are we encouraging crony capitalism? Is this a necessary but transient phase in the development of modern capitalism in our country? Are we doing enough to protect consumers and small businesses from the consequences of crony capitalism? Have we, in the name of protecting them, encouraged crony capitalism? Do we have a genuine level playing field for all businesses? What should be done to inject a greater degree of competitiveness in the industrial sector?"
Good questions. In fact, brilliant ones! But what should be more interesting is the timing of these questions -- this lecture was delivered on the first of May, 2007. This, more or less, coincided with the ouster of Dayanidhi Maran from the Union Cabinet for the first time, not on charges of crony capitalism, but ostensibly on account of a bitter family feud within the DMK family.
Maran, as the reader would know, was subsequently replaced by A Raja following the intervention of the DMK patriarch M Karunanidhi. So much for the prerogative of the prime minister to appoint ministers to his Cabinet in this era of coalition!
But the issue is not merely to choosing ministers or dropping them under coalition compulsions or family feuds.
Crucially, it applies to securing portfolios of 'commercial interests' (and not political interests) of political party, its leaders or bigwigs.
Recall the Nira Radia tapes. Raja was not anxious to know whether he would become a Cabinet minister; he was anxious to know whether he would become the telecommunication minister. The reason for the same is obvious.
India is in its nascent stage of liberalisation. Much as the role of the government is waning in the economic sphere, the fact remains that the government is and will continue to be entrusted with the task of policy formulation.
What better idea than to capture the policy formulation space for the benefit of personal business interests or to ensure that it is used to kill competition?
A famous example in the United States was the Interstate Commerce Commission, which was established as early as in 1887 to regulate the railroad 'robber barons'.
Instead, it quickly became controlled by the railroads, which set up a permit system that was used to deny access to new entrants and functionally legalised price fixing!
Given the political paradigm prevailing in India, it is extremely tempting for players to enter the policy formulation space and use it against business competitors. People enter politics with a clear intention to further their economic interests, not otherwise.
In the process, increasingly, the Union Cabinet resembles diverse business interests (beginning A for Agriculture to U for Urban Affairs) headed, of course, by an honest prime minister.
Maran and crony capitalism
What is missed in the melee by the media managers of the prime minister is the fact that there is nothing 'personal' in public life. Either one is honest or dishonest in public life with virtually no third alternative.
This compartmentalisation of honesty and circumscribing it as personal is neither feasible in public life nor desirable.
Nothing illustrates this paradigm better than the latest Maran-Maxis imbroglio. It may be recalled that when Maran was appointed to the Union Cabinet as the telecommunications minister eyebrows were raised.
By 2006 it was public knowledge that Maran was attempting to use his office and derail the business plan of Tata Group as the Sun group (owned by his brother) was competing with the Tatas.
L'affaire Maxis which ultimately led to the resignation of Maran from the Union Cabinet last week is seen by many as textbook definition of crony capitalism. The allegation that Maran denied spectrum to Aircel and thereby put brakes on its business expansion plans is as old as the Sun (pun unintended).
Disillusioned by the turn of events, the then owner of Aircel divested his stakes in favour of Maxis.
Once Aircel changed hands, it is alleged, spectrum hitherto denied was instantly made available to Aircel. And in return for the favour, the Maxis group is rumored to have invested into certain Sun group companies (which even to this date are making losses) at exorbitant premiums.
Naturally questions arise. Was the prime minister aware of Maran's, and by extension his brother's, business interests? Was he aware as to the allegations made by several business groups -- available in public domain -- as to how Maran misused his official position to derail business plan of rival business groups?
In fact, as pointed out, Maran continued to occupy the office of Union telecommunications minister till May 2007. He resigned, not because he lost the confidence and backing of the prime minister, but because of the family feud.
The sequence of events during his term in office, however, suggests that crony capitalism flourished then. And it is precisely in these situations the prime minister should have stopped lamenting about crony capitalism through lectures and demonstrated his understanding of economics and personal honesty through direct actions and decisive interventions. Yet, he chose not to.
Having lost several chances to 'publicly' demonstrate his 'personal honesty', the prime minister's image managers face a Hobson's choice now -- if they do nothing, they are accused of apathy and if they do something, it is pure hyperbole.
Seems like quite a fall for a man who is the architect of the economic reforms in India and has been largely instrumental in dismantling the license-quota-permit raj of the pre-liberalisation era.
PS: As questions arise on the prime minister's understanding of economics, his media managers probably need to attempt one more: the prime minister is a brilliant economist too!
The author is a Chennai-based Chartered Accountant. Comments can be sent to mrv@mrv.net.in
Or if you like you can send it to vivek@callforjustice.in
Rahul Gandhi on Terrorism
When 90 percent of politicians and especially that of Congress Party are themselves naxalite or associated with naxalites or taking help of them in extorting fund from rich people, when they could not prove and punish Kasab even after almost three years how can they stop naxalism or terrorism.
Rahul Gandhi spoke that government can control 99 percent of terror attacks and people of Indian has to bear with one percent of terror attacks. Undoubtedly he committed a blunder by giving a statement which hurt people of India. It may be slip of tongue or due to lack of maturity. But flatterers like Diggi, Manu Singhwi , Manish Tiwari,Ambika Soni persons are trying to say hundred lies to validate one wrong statement of Rahul .It is open secret that Congress Party is a party of flatterers where Sonia and Rahul Gandhi are all in all. “India is Indira” was said by none else than a flatterer of Indira Gandhi when she was in power.
In fact UPA has no consistent policy towards Pakistan. Leaders of Congress Party more often than not speak in favour of Pakistan and plead for dialogue knowing very well that even USA has realized the true character of Pakistan stopped financial help to Pakistan. USA believes in action whereas Indian leaders believe in talk and talk only. To add fuel to fire Diggi Raja says that India is at least better than Pakistan because terror attacks occurs in India after 31 months. Diggi could not visualize Sri Lanka and Bangladesh like small nations where no terror attack occurred during last 31 months and if we talk of USA and UK, , they have completely stopped terror attack after taking a lesson from attacks which occurred ten years ago.
Vohra Committee recommended a lot of measures in its report way back in 1993 to prevent terrorism or naxalism but unfortunately none of politicians thought it wise to accept the recommendation of Vohra Committee and act upon it seriously. Had the recommendations been put into action in 1993 itself India could have got success in preventing escalation of black money, drug trafficking, money laundering, smuggling of arms and ammunition, spread of naxal network, empowerment of mafia or underworld elements and what not. It is not unusual for Indian leaders who form committee after committee after all mishaps and then reject its good suggestions because they are least concerned for India; they perpetuate their politics of Divide and Rule
It is innocence or foolishness or lack of maturity of voters who still vote such congress men and elect them to voice their grievance and suggestion in Parliament. Opposition parties are also so much greedy of power and wealth that they forget their duty towards nation and towards people of India and hence they continue their individual game for their own narrow minded ideology. This is why even if 75 percent of voters are anti –Congress party; government is run by Congress Party in the name of democracy and secularism. It is unfortunate that in our country ruling party opposes all what opposition parties speaks and aspire for the country and on the contrary opposition party do not support ruling party even if the cause is good and in the interest of the nation.
Ultimately it is only the people of India who have to suffer and continue to suffer in the name of caste, community, region or religion, democracy or secularism. This is why issues of price rise or unemployment or terrorism or naxalism always and invariably become insignificant on the eve of election.
Rahul Gandhi spoke that government can control 99 percent of terror attacks and people of Indian has to bear with one percent of terror attacks. Undoubtedly he committed a blunder by giving a statement which hurt people of India. It may be slip of tongue or due to lack of maturity. But flatterers like Diggi, Manu Singhwi , Manish Tiwari,Ambika Soni persons are trying to say hundred lies to validate one wrong statement of Rahul .It is open secret that Congress Party is a party of flatterers where Sonia and Rahul Gandhi are all in all. “India is Indira” was said by none else than a flatterer of Indira Gandhi when she was in power.
In fact UPA has no consistent policy towards Pakistan. Leaders of Congress Party more often than not speak in favour of Pakistan and plead for dialogue knowing very well that even USA has realized the true character of Pakistan stopped financial help to Pakistan. USA believes in action whereas Indian leaders believe in talk and talk only. To add fuel to fire Diggi Raja says that India is at least better than Pakistan because terror attacks occurs in India after 31 months. Diggi could not visualize Sri Lanka and Bangladesh like small nations where no terror attack occurred during last 31 months and if we talk of USA and UK, , they have completely stopped terror attack after taking a lesson from attacks which occurred ten years ago.
Vohra Committee recommended a lot of measures in its report way back in 1993 to prevent terrorism or naxalism but unfortunately none of politicians thought it wise to accept the recommendation of Vohra Committee and act upon it seriously. Had the recommendations been put into action in 1993 itself India could have got success in preventing escalation of black money, drug trafficking, money laundering, smuggling of arms and ammunition, spread of naxal network, empowerment of mafia or underworld elements and what not. It is not unusual for Indian leaders who form committee after committee after all mishaps and then reject its good suggestions because they are least concerned for India; they perpetuate their politics of Divide and Rule
It is innocence or foolishness or lack of maturity of voters who still vote such congress men and elect them to voice their grievance and suggestion in Parliament. Opposition parties are also so much greedy of power and wealth that they forget their duty towards nation and towards people of India and hence they continue their individual game for their own narrow minded ideology. This is why even if 75 percent of voters are anti –Congress party; government is run by Congress Party in the name of democracy and secularism. It is unfortunate that in our country ruling party opposes all what opposition parties speaks and aspire for the country and on the contrary opposition party do not support ruling party even if the cause is good and in the interest of the nation.
Ultimately it is only the people of India who have to suffer and continue to suffer in the name of caste, community, region or religion, democracy or secularism. This is why issues of price rise or unemployment or terrorism or naxalism always and invariably become insignificant on the eve of election.
Do not Blame Diggi baba only
Several members of Indian Muzahiddin and SIMI have been found involved in various terror attacks in the past. UPA Government led by Congress Party has never tried to ban such anti national organizations which are spreading hate messages against India and who are said to be indulged in hatching conspiracy of carrying out one after other terror attacks in India , giving terror training to their members and openly walking on their talks in favour of enemy country Pakistan. Congress Party on the other hand left no stone unturned to torture and trap Bab Ramdeo, Anna Hazare and their followers.
As usual, leaders of Congress Party ( Diggi Baba speaks the language of Congress Party because none of his colleagues dares says opposite to what Diggi Baba says) blame BJP or RSS for all mishaps or Congress Party talk of stern action against terrorists for a few days just after terror attack and make serious promises of putting into action effective mechanism to prevent recurrences of terror attacks. But in fact they do nothing and forget all promises made after terror incidents. Rather they always try to complicate the issue by dragging the name of RSS and BJP.
This time too, Digvijay Singh has tried to malign the name of Hindu outfits by indirectly pinpointing his accusing fingers towards RSS.
In this way Mr. Digvijay Singh, number one liar is not only supporting Pakistan oriented propagandas but also misleading investigating agencies and police officials and indirectly giving clean chit to members of Indian Mujahidin and SIMI against whom doubts have already been expressed by investigating agencies.
I am unable to understand why leaders of Congress Party do not treat the death of a person as death of an Indian. I condemn persons like Digvijay Singh who are habituated to carry out their divide and rule policy by discriminating the death of Indian on the basis of caste and community. Such mean minded leaders say, a dalit is killed or a Muslim is killed or a Sikh is killed or a Christian is killed instead of saying that an Indian is killed.
I think every true Indian should condemn such leaders who instead of treating an Indian as an Indian try to divide Indians on various grounds to serve their political interest.
Leaders of Congress Party should discard their policy of changing the issues and always diverting the minds of common men from prime points of concern to secondary irrelevant issues. They should rather focus on main problems which India is facing on the front of terrorism or naxalism.
I appeal Congress men, please for God sake do not give unwarranted statement and at least let investigating agencies do their duty honestly and sincerely to safeguard National interest. Who stops police men to arrest and punish Hindu or Muslim if he or she is found involved in any terror or naxal attacks? In fact those who are behind terror attacks are neither Hindu nor Muslims, they are neither Dalit nor forward, neither Sikh nor Christians, they are simply criminals and anti-national. In the eyes of law there is no discrimination but it is politicians who always discriminate criminals on the basis of caste or community while reacting on any terror attack.
As usual, leaders of Congress Party ( Diggi Baba speaks the language of Congress Party because none of his colleagues dares says opposite to what Diggi Baba says) blame BJP or RSS for all mishaps or Congress Party talk of stern action against terrorists for a few days just after terror attack and make serious promises of putting into action effective mechanism to prevent recurrences of terror attacks. But in fact they do nothing and forget all promises made after terror incidents. Rather they always try to complicate the issue by dragging the name of RSS and BJP.
This time too, Digvijay Singh has tried to malign the name of Hindu outfits by indirectly pinpointing his accusing fingers towards RSS.
In this way Mr. Digvijay Singh, number one liar is not only supporting Pakistan oriented propagandas but also misleading investigating agencies and police officials and indirectly giving clean chit to members of Indian Mujahidin and SIMI against whom doubts have already been expressed by investigating agencies.
I am unable to understand why leaders of Congress Party do not treat the death of a person as death of an Indian. I condemn persons like Digvijay Singh who are habituated to carry out their divide and rule policy by discriminating the death of Indian on the basis of caste and community. Such mean minded leaders say, a dalit is killed or a Muslim is killed or a Sikh is killed or a Christian is killed instead of saying that an Indian is killed.
I think every true Indian should condemn such leaders who instead of treating an Indian as an Indian try to divide Indians on various grounds to serve their political interest.
Leaders of Congress Party should discard their policy of changing the issues and always diverting the minds of common men from prime points of concern to secondary irrelevant issues. They should rather focus on main problems which India is facing on the front of terrorism or naxalism.
I appeal Congress men, please for God sake do not give unwarranted statement and at least let investigating agencies do their duty honestly and sincerely to safeguard National interest. Who stops police men to arrest and punish Hindu or Muslim if he or she is found involved in any terror or naxal attacks? In fact those who are behind terror attacks are neither Hindu nor Muslims, they are neither Dalit nor forward, neither Sikh nor Christians, they are simply criminals and anti-national. In the eyes of law there is no discrimination but it is politicians who always discriminate criminals on the basis of caste or community while reacting on any terror attack.
Judicial Activism on SIT
Congress party is trying to divert the mind of common men from the burning issue of recurrence of terror attacks, Mumbai blast, corruption and black money to RSS and BJP. When Supreme Court appointed Special Investigation Team SIT to investigate post Godhra RIOT IN GUJRAT ,leaders of Congress Party celebrated the same and became very happy . They left no stone unturned to malign the image of Chief Minister of Gujrat Mr. Narendra Modi and BJP.
Now when the same Supreme Court has appointed SIT for investigating Black money , Congress Party has filed a petition in Supreme Court to review its order and prayed the court not to appoint SIT. Now the leaders of the same party say that appointment of SIT is judicial activism and plead that it is direct interference of Supreme Court in the functioning of legislative functions of Parliament and executive function of the government.It is clearly double speak of Congress Party and people of India should try to understand the real character of leaders of Congress Party
Diggi Baba gives full respect to terrorist by calling Osam Bin Laden as Osamaji even after his death whereas he has no hesitation in calling Ramdeo Baba and Anna Hazare as Thug.
Diggi Baba cannot dare speak against SIMI or Indian Muazahiddin but can malign RSS and BJP without any hesitation
Now when the same Supreme Court has appointed SIT for investigating Black money , Congress Party has filed a petition in Supreme Court to review its order and prayed the court not to appoint SIT. Now the leaders of the same party say that appointment of SIT is judicial activism and plead that it is direct interference of Supreme Court in the functioning of legislative functions of Parliament and executive function of the government.It is clearly double speak of Congress Party and people of India should try to understand the real character of leaders of Congress Party
Diggi Baba gives full respect to terrorist by calling Osam Bin Laden as Osamaji even after his death whereas he has no hesitation in calling Ramdeo Baba and Anna Hazare as Thug.
Diggi Baba cannot dare speak against SIMI or Indian Muazahiddin but can malign RSS and BJP without any hesitation
Are Bankers Fraud Masters
http://www.allbankingsolutions.com/SBI-Accounting-Jugglery-or-.htm
http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/psu-banks-to-take-4000-cr-hit-on-pensions/articleshow/8033625.cms
It has been reported several time in the past , written to Prime Minister, President of India and to all important dignitaries on many occasions that for last one decade and more CEO, CMD and top ranked officers of Public sector banks in collusion with , union leaders, association stalwarts ,officials of RBI , Banking Division and Ministry of Finance have not been making adequate provision or making less provisions towards pension or gratuity payment to employees who retire from banks only to show artificial profit and to conceal the misdeeds of top bankers and politicians and to save the image of policy of banking reformation launched and promoted by Doctor economist Mr. Manmohan Singh in 1991 and then supported by UPA government .
Thousands of crores of rupees are sacrificed every year by each bank in waiver of loan or in compromise settlement with defaulting borrowers. Two years ago 75000 crores worth loans were written off by banks to obey the orders of the government who talk of reformation in banking.Crores of rupees are spent by banks in extending red carpet welcome to top ranked government officials, CMD, RBI executive, RBI governor and other VVIP dignitaries but management of bank do not have will to make adequate provision for employees whose contribution in making of bank is of paramount importance and who are more significant and relevant .
Bank management can spend lavishly in motivating team of Chartered Accountants to put their signature of balance sheet without making mention of bad assets. Bank can spend crores of rupees in advertisement, in organization of functions to celebrate or to bid farewell to top officials of the bank but banks do not have adequate income to pay even pension for serving employees. So many suits have been filed in various courts by aggrieved employees or by their association against injustice in Bipartite settlement against the process of promotion but there is none to take care of it. Bank management can pay crores of rupees to advocates to save the legitimate expenses towards staff welfare. This is the pitiable position of PSU banks and this is the position of corrupt mind of top officials of banks and other regulating departments.
Now RBI has given instruction to banks to provide for pension payment at least for retire employees. This amount of provision is estimated to be Rs.4000 crore by RBI. If provision towards pension payment towards serving employees is done which is supposed to be done I assume the amount will come to at least one lac crore and all banks will come in loss and face capital erosion. As such CMD of banks in general through IBA are demanding amortization of provision towards pension payment for coming five years so that burden of provision may be staggered in coming five years.
It is shocking for all those who do not know the level of corruption prevailing in the banking industry. Foul game being played by top bankers is not less dangerous than the game played by Mr. Raju of Satyam Computers.
It s shocking for those media men and economists who considered public sector banks as the best performer and those who are swayed away by sweet promises and tall claim of achievement made by CMD of various banks master mind of fraudulent activities .
It is shocking for government officials who considered Public sector banks as safe and healthy.
But it is not astonishing for bank employees who voiced their protest on fraudulent attitude of CEO, who filed writs in various High courts against injustice in 9th Bipartite settlement signed on 27th of April 2010 in between IBA and union leaders of bank employees,.
Long ago it was reported by many bankers that Union leaders and top ranked officers are not making provision towards pension payment and team of Chartered Accountants are selling their signatures and certifying false and inflated profit and concocted balance sheet.
It is worthwhile to mention here that all companies in the country have to give equal contribution towards Provident Fund as much as they deduct from their employees. Banks also used to contribute equal amount in provident fund for their employees as long as employees in general were member of provident fund. When bank employees opted for pension, banks were supposed to contribute similar amount towards pension fund so that future liability arising out of pension payment could be met without any adverse impact on profitability of banks. But unfortunately many banks stopped making provision towards pension to show inflated and false profit and to remain in good book of RBI officials, Ministry of Finance and also to falsely glorify the policy of liberalization and globalization promoted by Mr. Manmohan Singh.
It is never too late. I expect even now the government will ensure accurate provision towards pension payment.
When banks are unable to meet even legitimate expenses for their serving employees there is no justification in considering the banks as healthy and promoting bank officials as ED or CMD. Union leaders considering themselves as protector of interest of bank employees are also supporting illegal acts of the management. In such postion Managing Director of banks and Union leaders who perpetuated fraudulent and such mischievous activity in banks and RBI officials who allowed this to happen for years together are equally responsible and accountable for current mess in banks and they should be adequately punished.
It is pertinent to mention here that on this point as many as 16 writs are pending in various High courts in India .IBA is still silent spectator of Chirharan of bank employees. None of even VVIPs are least bothered of justice. Reign of injustice will continue as long as corrupt leaders are sitting on top posts.
However it is to be welcome by all bankers and especially retired employees that RBI has ultimately advised banks to make adequate provisions towards pension payment. God knows when top officials will apply their wisdom in protecting the interest of field functionaries on whom depends the real health and real future of the bank.
In brief I can say that inordinate delay in delivery of courts in India is used as tool by corrupt officials to continue their earning through unfair means and to continue their whimsical decisions.
SBI Balance Sheet as on 31.03.2011 -- Is it Merely An Accounting Jugglery or Fraud With Investors ?
Is There a Fraud of Rs 10400.41 cr in Pension Fund Trust alone- How different it is from the famous Satyam computers Scam?
by
Rajendra Kumar Singhal [ rkumarsinghal@rediffmail.com ]
06.07.2011
Dr K.C. Chakarbarti,
Dy Governor Reserve Bank of India
Reserve Bank of India
Central Office Building
Shahid Bhagat Singh Marg
Central Office,
Fort , Mumbai 400001
Dear Sir
Re: Accounting Jugglery- Fraud in SBI Balance Sheet as on 31.03.2011 -- Rs 10400.41 cr Fraud in Pension Fund Trust alone- How different it is from the famous Satyam computers Scam?
We refer to you’re your comment appearing in various financial dailies “Accounting Jugglery by Banks Draws RBI Flak”. Your comments have been made due o following reasons:
· State Bank of India has shocked the investors with 99% plunge in the net profit for the fourth quarter of fiscal 2011 as it has boosted various provisions.
· It is reported that during - 4th quarter, SBI made a provision of Rs 3263.9 cr for bad debt as compared to Rs 2186.70 cr in the same period in last year.. The full year provision was Rs 6059 cr against Rs 3327 cr showing rise of 82.10% which resulted in net profit dipped by 98.9%
· 70% Provision Coverage Ratio is being blamed for 99% plunge in the profit.
· It is reported that G. Ramaswami President ICAI has taken note of it and written to SBI for explaining the reason for huge provisioning. He has also said that role of RBI as well as SEBI a market regulator is also under question
· P. Sheshagiri Rao, Charterterd Accountant are not bothered about the comments of ICAI (Institute of Chartered Accountant – the apex organization for establishing accounting standards for compliance in India).
In addition to above we have noted the following fraud in the balance sheet- Note on Account no 8 & 9:
· As per Notes (No8) attached to the balance sheet “ consequent upon wage revision and proposed amendment to pension regulations, the pension liability for the year ended 31.03.2011 as determined by independent actuary amounted to Rs 11707 cr. The existing provision is only Rs 1306.70. The additional pension cost liabilities for previous years amounting to Rs 7927.41 cr has been charged to reserve in accordance with dispensation granted by RBI to banks letter no DBOD/BP/No16165/21.04.018/2010-11. The pension cost for the year amounting to Rs 2473 cr has been charged to the profit and loss account.”
· As per Notes (No9) attached to the balance sheet “ Rs 1965 cr has been charged to profit and loss due to enhancement in the gratuity ceiling, and wage revision
Satyam Computers Type Fraud in pension fund trust in the previous year balance sheet has gone unnoticed
As per note -8- attached to balance sheet which reveals that “The additional pension cost liabilities for previous years amounting to Rs 7927.41 cr has been charged to reserve”. It clearly reveals the following:
· In the previous years the bank actuaries have given false valuation on pension liability as mentioned above.
· How the pension liability can go up from Rs 1306.70 cr to Rs 11707 cr (Rs 1306.70 cr +7927.41 +2473) in one year alone.
· It clearly proves that the profit and loss and balance sheet of the bank was falsified. It was not fair and transparent balance sheet of the bank during past several years.
· The liability on account of pension fund was not deposited in pension fund and it was distributed as divided to investor.
Governor RBI & Dr K.C.Charkarwarti Dy.RBI Governor may kindly note :-
· CBI has already prosecuted Hiranandani builders of Mumbai and Mr Raju of Satyam computers under 120 B (punishment for conspiracy) read with 409 (breach of trust) 420 cheating 467/468 forgery 471 use of forgery 477A falsification of accounts .
· Statutory Auditors are liable under company act/ IPC /CA act for gross negligence of professional duty, failure to report material misstatement. Price Water Coopers (PWC) an international Chartered Account Firm) have also been prosecuted by CBI in Satyam Scandal.
· SEBI can prosecute under SEBI ACT.
· SFIO can investigate under 235 to 247 of companies Act 1956. Please note that Satyam CMD/ Auditor/are s being prosecuted under above acts.
· CBI it self has prosecuted Chairman Hiranandani builders in Mumbai for not depositing PF of employees ( not depositing retirement funds is an unpardonable offence) .
Questions to RBI Governor/ Dy. Governor:
· The RBI is carrying out Annual Financial Inspection (AFIR) of Banks every year. Is the AFIR of RBI is an eye wash?
· RBI has directed each bank in 2006 to formulate a compliance policy to ensure that regulatory/ statutory compliances are complied with by the Banks. Whether during the course of AFIR, RBI monitor that regulatory/ statutory compliances have been followed by the bank?. (Please note that the depositing retirement dues are is statutory compliance).?
· Whether RBI treat such misreporting in the balance sheet as fraud if not than why it is not. Do you follow different yardsticks for different Company. Satyam chairman in Jail and SBI chairman is a free bird??
· Will you report the matter to SFIO for suitable action?
· Whether RBI has sent any special investigation team to RBI to unearth the biggest scam in the pension fund trust of employees?.
· Whether RBI has taken any action or advised to ICAI to initiate action against -14- SCAs of SBI who have certified the falsified balance sheet of past years?.
· How incompetent CAs are finding there name in the panel approved by RBI?.
· Whether RBI has reported to other regulator like SEBI, a watchdog to safeguard the investors interest. How the investors have been taken for ride by misleading balance sheet in previous years?
· Whether RBI has taken the matter with Institute of Actuaries to take action against actuaries who are giving reports which suits to then management? Have you asked the institute to carry our independent investigation of pension liability and punish the wrong doer forgiving false actuarial valuation in the previous years.?.
Whether RBI Governor/ Dy Governor feels that by merely issuing press statement will absolve them from their liability?
The above communication may please be taken note for compliance because this is going to be part of judicial proceeding of various HC/ Supreme Court where pension issues are pending and action of Regulator will be under scrutiny.
Rajendra Kumar.Singhal
CONVENOR
FORUM FOR JUSTICE TO BANK EMPLOYEES AND OFFICERS.
http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/psu-banks-to-take-4000-cr-hit-on-pensions/articleshow/8033625.cms
It has been reported several time in the past , written to Prime Minister, President of India and to all important dignitaries on many occasions that for last one decade and more CEO, CMD and top ranked officers of Public sector banks in collusion with , union leaders, association stalwarts ,officials of RBI , Banking Division and Ministry of Finance have not been making adequate provision or making less provisions towards pension or gratuity payment to employees who retire from banks only to show artificial profit and to conceal the misdeeds of top bankers and politicians and to save the image of policy of banking reformation launched and promoted by Doctor economist Mr. Manmohan Singh in 1991 and then supported by UPA government .
Thousands of crores of rupees are sacrificed every year by each bank in waiver of loan or in compromise settlement with defaulting borrowers. Two years ago 75000 crores worth loans were written off by banks to obey the orders of the government who talk of reformation in banking.Crores of rupees are spent by banks in extending red carpet welcome to top ranked government officials, CMD, RBI executive, RBI governor and other VVIP dignitaries but management of bank do not have will to make adequate provision for employees whose contribution in making of bank is of paramount importance and who are more significant and relevant .
Bank management can spend lavishly in motivating team of Chartered Accountants to put their signature of balance sheet without making mention of bad assets. Bank can spend crores of rupees in advertisement, in organization of functions to celebrate or to bid farewell to top officials of the bank but banks do not have adequate income to pay even pension for serving employees. So many suits have been filed in various courts by aggrieved employees or by their association against injustice in Bipartite settlement against the process of promotion but there is none to take care of it. Bank management can pay crores of rupees to advocates to save the legitimate expenses towards staff welfare. This is the pitiable position of PSU banks and this is the position of corrupt mind of top officials of banks and other regulating departments.
Now RBI has given instruction to banks to provide for pension payment at least for retire employees. This amount of provision is estimated to be Rs.4000 crore by RBI. If provision towards pension payment towards serving employees is done which is supposed to be done I assume the amount will come to at least one lac crore and all banks will come in loss and face capital erosion. As such CMD of banks in general through IBA are demanding amortization of provision towards pension payment for coming five years so that burden of provision may be staggered in coming five years.
It is shocking for all those who do not know the level of corruption prevailing in the banking industry. Foul game being played by top bankers is not less dangerous than the game played by Mr. Raju of Satyam Computers.
It s shocking for those media men and economists who considered public sector banks as the best performer and those who are swayed away by sweet promises and tall claim of achievement made by CMD of various banks master mind of fraudulent activities .
It is shocking for government officials who considered Public sector banks as safe and healthy.
But it is not astonishing for bank employees who voiced their protest on fraudulent attitude of CEO, who filed writs in various High courts against injustice in 9th Bipartite settlement signed on 27th of April 2010 in between IBA and union leaders of bank employees,.
Long ago it was reported by many bankers that Union leaders and top ranked officers are not making provision towards pension payment and team of Chartered Accountants are selling their signatures and certifying false and inflated profit and concocted balance sheet.
It is worthwhile to mention here that all companies in the country have to give equal contribution towards Provident Fund as much as they deduct from their employees. Banks also used to contribute equal amount in provident fund for their employees as long as employees in general were member of provident fund. When bank employees opted for pension, banks were supposed to contribute similar amount towards pension fund so that future liability arising out of pension payment could be met without any adverse impact on profitability of banks. But unfortunately many banks stopped making provision towards pension to show inflated and false profit and to remain in good book of RBI officials, Ministry of Finance and also to falsely glorify the policy of liberalization and globalization promoted by Mr. Manmohan Singh.
It is never too late. I expect even now the government will ensure accurate provision towards pension payment.
When banks are unable to meet even legitimate expenses for their serving employees there is no justification in considering the banks as healthy and promoting bank officials as ED or CMD. Union leaders considering themselves as protector of interest of bank employees are also supporting illegal acts of the management. In such postion Managing Director of banks and Union leaders who perpetuated fraudulent and such mischievous activity in banks and RBI officials who allowed this to happen for years together are equally responsible and accountable for current mess in banks and they should be adequately punished.
It is pertinent to mention here that on this point as many as 16 writs are pending in various High courts in India .IBA is still silent spectator of Chirharan of bank employees. None of even VVIPs are least bothered of justice. Reign of injustice will continue as long as corrupt leaders are sitting on top posts.
However it is to be welcome by all bankers and especially retired employees that RBI has ultimately advised banks to make adequate provisions towards pension payment. God knows when top officials will apply their wisdom in protecting the interest of field functionaries on whom depends the real health and real future of the bank.
In brief I can say that inordinate delay in delivery of courts in India is used as tool by corrupt officials to continue their earning through unfair means and to continue their whimsical decisions.
SBI Balance Sheet as on 31.03.2011 -- Is it Merely An Accounting Jugglery or Fraud With Investors ?
Is There a Fraud of Rs 10400.41 cr in Pension Fund Trust alone- How different it is from the famous Satyam computers Scam?
by
Rajendra Kumar Singhal [ rkumarsinghal@rediffmail.com ]
06.07.2011
Dr K.C. Chakarbarti,
Dy Governor Reserve Bank of India
Reserve Bank of India
Central Office Building
Shahid Bhagat Singh Marg
Central Office,
Fort , Mumbai 400001
Dear Sir
Re: Accounting Jugglery- Fraud in SBI Balance Sheet as on 31.03.2011 -- Rs 10400.41 cr Fraud in Pension Fund Trust alone- How different it is from the famous Satyam computers Scam?
We refer to you’re your comment appearing in various financial dailies “Accounting Jugglery by Banks Draws RBI Flak”. Your comments have been made due o following reasons:
· State Bank of India has shocked the investors with 99% plunge in the net profit for the fourth quarter of fiscal 2011 as it has boosted various provisions.
· It is reported that during - 4th quarter, SBI made a provision of Rs 3263.9 cr for bad debt as compared to Rs 2186.70 cr in the same period in last year.. The full year provision was Rs 6059 cr against Rs 3327 cr showing rise of 82.10% which resulted in net profit dipped by 98.9%
· 70% Provision Coverage Ratio is being blamed for 99% plunge in the profit.
· It is reported that G. Ramaswami President ICAI has taken note of it and written to SBI for explaining the reason for huge provisioning. He has also said that role of RBI as well as SEBI a market regulator is also under question
· P. Sheshagiri Rao, Charterterd Accountant are not bothered about the comments of ICAI (Institute of Chartered Accountant – the apex organization for establishing accounting standards for compliance in India).
In addition to above we have noted the following fraud in the balance sheet- Note on Account no 8 & 9:
· As per Notes (No8) attached to the balance sheet “ consequent upon wage revision and proposed amendment to pension regulations, the pension liability for the year ended 31.03.2011 as determined by independent actuary amounted to Rs 11707 cr. The existing provision is only Rs 1306.70. The additional pension cost liabilities for previous years amounting to Rs 7927.41 cr has been charged to reserve in accordance with dispensation granted by RBI to banks letter no DBOD/BP/No16165/21.04.018/2010-11. The pension cost for the year amounting to Rs 2473 cr has been charged to the profit and loss account.”
· As per Notes (No9) attached to the balance sheet “ Rs 1965 cr has been charged to profit and loss due to enhancement in the gratuity ceiling, and wage revision
Satyam Computers Type Fraud in pension fund trust in the previous year balance sheet has gone unnoticed
As per note -8- attached to balance sheet which reveals that “The additional pension cost liabilities for previous years amounting to Rs 7927.41 cr has been charged to reserve”. It clearly reveals the following:
· In the previous years the bank actuaries have given false valuation on pension liability as mentioned above.
· How the pension liability can go up from Rs 1306.70 cr to Rs 11707 cr (Rs 1306.70 cr +7927.41 +2473) in one year alone.
· It clearly proves that the profit and loss and balance sheet of the bank was falsified. It was not fair and transparent balance sheet of the bank during past several years.
· The liability on account of pension fund was not deposited in pension fund and it was distributed as divided to investor.
Governor RBI & Dr K.C.Charkarwarti Dy.RBI Governor may kindly note :-
· CBI has already prosecuted Hiranandani builders of Mumbai and Mr Raju of Satyam computers under 120 B (punishment for conspiracy) read with 409 (breach of trust) 420 cheating 467/468 forgery 471 use of forgery 477A falsification of accounts .
· Statutory Auditors are liable under company act/ IPC /CA act for gross negligence of professional duty, failure to report material misstatement. Price Water Coopers (PWC) an international Chartered Account Firm) have also been prosecuted by CBI in Satyam Scandal.
· SEBI can prosecute under SEBI ACT.
· SFIO can investigate under 235 to 247 of companies Act 1956. Please note that Satyam CMD/ Auditor/are s being prosecuted under above acts.
· CBI it self has prosecuted Chairman Hiranandani builders in Mumbai for not depositing PF of employees ( not depositing retirement funds is an unpardonable offence) .
Questions to RBI Governor/ Dy. Governor:
· The RBI is carrying out Annual Financial Inspection (AFIR) of Banks every year. Is the AFIR of RBI is an eye wash?
· RBI has directed each bank in 2006 to formulate a compliance policy to ensure that regulatory/ statutory compliances are complied with by the Banks. Whether during the course of AFIR, RBI monitor that regulatory/ statutory compliances have been followed by the bank?. (Please note that the depositing retirement dues are is statutory compliance).?
· Whether RBI treat such misreporting in the balance sheet as fraud if not than why it is not. Do you follow different yardsticks for different Company. Satyam chairman in Jail and SBI chairman is a free bird??
· Will you report the matter to SFIO for suitable action?
· Whether RBI has sent any special investigation team to RBI to unearth the biggest scam in the pension fund trust of employees?.
· Whether RBI has taken any action or advised to ICAI to initiate action against -14- SCAs of SBI who have certified the falsified balance sheet of past years?.
· How incompetent CAs are finding there name in the panel approved by RBI?.
· Whether RBI has reported to other regulator like SEBI, a watchdog to safeguard the investors interest. How the investors have been taken for ride by misleading balance sheet in previous years?
· Whether RBI has taken the matter with Institute of Actuaries to take action against actuaries who are giving reports which suits to then management? Have you asked the institute to carry our independent investigation of pension liability and punish the wrong doer forgiving false actuarial valuation in the previous years.?.
Whether RBI Governor/ Dy Governor feels that by merely issuing press statement will absolve them from their liability?
The above communication may please be taken note for compliance because this is going to be part of judicial proceeding of various HC/ Supreme Court where pension issues are pending and action of Regulator will be under scrutiny.
Rajendra Kumar.Singhal
CONVENOR
FORUM FOR JUSTICE TO BANK EMPLOYEES AND OFFICERS.
We need persons like Nitish, Narendra Modi or Advani
Congress Party leaders are trying to save corrupt leaders from punitive action by pinpointing their accusing finger towards Anna and members of his team, Ramdeo and his team members and against all Tom Dick and Harry whoever raise voice against corruption, black money, painful price rise, painful terrorism and naxalism and against misdeeds of corrupt leaders of ruling party and corrupt officers working in the government offices.
It should be kept in mind that a criminal cannot get acquitted from the court only because other criminals are not punished. Everybody or most of the top officials are thief, it does not mean that stealing is great thing to be followed as religious duty.
Leaders of Congress Party are so much mad and have become so much insensitive and senseless that they are not in a position to understand the pulse of people of India. They are in their intoxication of power not in a position to ante wave blowing in the country and voice of revolt vibrating in the bodies of people of India against corrupt , ineffective, fraud-master, scam ridden and the weakest government led by Congress Party and its allies under the premiership of impotent person like Manmohan Singh .
Persons like Digvijay Singh, Manish Tiwari and Kapil sibal who are speaking the language of Sonia and Rahul Gandhi will spoil the future of Congress Party as well as that of India if they are allowed to continue to mislead the nation as flatterers of Indira Gandhi used to do during her rule in seventies and eighties.
People of India will definitely teach appropriate lesson at appropriate time to such mean minded and greedy leaders who have given pain to common men and who have caused huge loss to government exchequer by dint of their corrupt activities.
People of India are as of now powerless and are repenting after giving power in the hands of corrupt people .As soon as political parties sitting in opposition benches in Parliament understand the gravity of sin of Congress men and that of its allies exposed during last few years they will surely ponder over coming together to give a united fight to ruling party.
As soon as opposition parties realize that corrupt leaders of Congress Parties and its allies are committing they will join hands and move against UPA government and throw Mr. Manmohan Singh and his team in deep Ocean.
We simply need a person like Jai Prakash Narayan who could motivate leaders of Opposition parties to come together as he did in the past to oust the Congress Government led by Indira Gandhi in 1978.
I pray God to give wisdom to Anna Hazare, Ramdeo Baba and their followers to understand the value of political parties who are also sincerely interested to move a Jan Lokpal bill in Parliament to stop corrupt activities. Without the support of political parties, success of movement against corruption will be delayed too much and there is no doubt that in long run it may lose the intensity what it has gained today.
We need persons like Nitish Kumar, Narendra Modi and Mr.L K Advani. We need persons like T. N. Sheshan, Abdul Kalam and Santosh Hegde. We need persons like Anna Hazare, Arvind Kejriwal, Kiran Bedi, Prashant Bhusan, Shashi Bhusan and Baba Ramdeo to give power to our fight against corrupt system and corrupt leaders.We have to get rid of persons like Manmohan Singh, Digvijay Singh, Kapil Sibal like persons as soon as possible.
It should be kept in mind that a criminal cannot get acquitted from the court only because other criminals are not punished. Everybody or most of the top officials are thief, it does not mean that stealing is great thing to be followed as religious duty.
Leaders of Congress Party are so much mad and have become so much insensitive and senseless that they are not in a position to understand the pulse of people of India. They are in their intoxication of power not in a position to ante wave blowing in the country and voice of revolt vibrating in the bodies of people of India against corrupt , ineffective, fraud-master, scam ridden and the weakest government led by Congress Party and its allies under the premiership of impotent person like Manmohan Singh .
Persons like Digvijay Singh, Manish Tiwari and Kapil sibal who are speaking the language of Sonia and Rahul Gandhi will spoil the future of Congress Party as well as that of India if they are allowed to continue to mislead the nation as flatterers of Indira Gandhi used to do during her rule in seventies and eighties.
People of India will definitely teach appropriate lesson at appropriate time to such mean minded and greedy leaders who have given pain to common men and who have caused huge loss to government exchequer by dint of their corrupt activities.
People of India are as of now powerless and are repenting after giving power in the hands of corrupt people .As soon as political parties sitting in opposition benches in Parliament understand the gravity of sin of Congress men and that of its allies exposed during last few years they will surely ponder over coming together to give a united fight to ruling party.
As soon as opposition parties realize that corrupt leaders of Congress Parties and its allies are committing they will join hands and move against UPA government and throw Mr. Manmohan Singh and his team in deep Ocean.
We simply need a person like Jai Prakash Narayan who could motivate leaders of Opposition parties to come together as he did in the past to oust the Congress Government led by Indira Gandhi in 1978.
I pray God to give wisdom to Anna Hazare, Ramdeo Baba and their followers to understand the value of political parties who are also sincerely interested to move a Jan Lokpal bill in Parliament to stop corrupt activities. Without the support of political parties, success of movement against corruption will be delayed too much and there is no doubt that in long run it may lose the intensity what it has gained today.
We need persons like Nitish Kumar, Narendra Modi and Mr.L K Advani. We need persons like T. N. Sheshan, Abdul Kalam and Santosh Hegde. We need persons like Anna Hazare, Arvind Kejriwal, Kiran Bedi, Prashant Bhusan, Shashi Bhusan and Baba Ramdeo to give power to our fight against corrupt system and corrupt leaders.We have to get rid of persons like Manmohan Singh, Digvijay Singh, Kapil Sibal like persons as soon as possible.
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