System-my-foot(04082014)

Baba Bakhoran Dass (BBD) is shell shocked to observe the recent episode of arrest of CMD of Syndicate Bank and widespread media coverage starting from one particular electronic channel, even though the process of raid was ‘in process.’
BBD had firsthand experience of such exercise since 1998 starting from ‘Ayurved scam’ of Uttam Pradesh. To him Punishment is a conventional device for the expression of attitudes of resentment and indignation, and of judgments of disapproval and reprobation, on the part either of the punishing authority himself or of those “in whose name” the punishment is inflicted. Punishment, in short, has a symbolic significance largely missing from other kinds of penalties. The morality of punishment rests upon theories of deterrence, retribution, just deserts, rehabilitation, incapacitation, and most recently, restorative justice. These theories attempt to justify society’s imposition of punishment on offenders and try to provide an adequate ethical rationale for inflicting harm. Deterrence maintains that people are deterred from crime because they are concerned about the possible consequences of their actions. Utilitarian philosophers first put forward this justification for punishment. Retribution theorists argue that punishment is justified because it is deserved, and punishment therefore becomes a question of responsibility and accountability for acts that harm society. Retribution is justified in a number of ways, including the notion that offenders are paying their debt to society, that they are being censured by society, and that punishment has an expressive character that ought to be communicated to an offender. Purpose of punishment, as BBD infers are:
• Punishment will stop the offender from committing further crimes.
• Punishment tells the victim that society disapproves of the harm that he or she has suffered.
• Punishment discourages others from doing the same thing.
• Punishment protects society from dangerous or dishonest people.
• Punishment allows an offender to make amends for the harm he or she has caused.
• Punishment ensures that people understand that laws are there to be obeyed.

The entire process of delivery of the humiliating sentence that this episode has inflicted not only to an individual; but to an entire fraternity called backbone of economy of the country needs proper and threadbare view with open mind. Let us examine the episode from all angles as we do not know the truth, only purpose is to convey the very personal feelings to all his fellow friends whose conscience is clear – PL DO NOT ALLOW FEELINGS OF SHAME OR REGRET CREEP INTO YOU. If at all the individual is guilty, let him go to gallows – NO SYMPATHY. Individuals may be wrong – not the organisation. The banking system has contributed tremendously for the people. Let us be proud of our efforts and achievements. This is not any emotional preachy type speech. Pl examine by yourself:
• Based on circumstantial evidence and other monetary findings that is available on public domain, what punishment can be awarded.
• Collateral damage to the System by Media trial and publicity thereafter – if you can quantify, pl do and take your inference.
• Dent in image of the Banking system in national/international fora, quantify if you can.

Put all and evaluate, is it ok, what has happened, the way it has surfaced, whether the entire hype of vigilance has been successful in curbing/mitigating such reputational/financial risk? Was only this way left out for the power to handle such situation?
And we talk of system and procedure!

Author: mahesh3006

A retired development banker with strong bias towards rural development through microcredit