Recent incident of Jaipur in Syndicate Bank is culmination of complete failure of control system, while root cause is approach of the system wherein those get pampered and elevated who prefer to swim with the ineffective and corrupt system. Loan given by its Patna branch to well known celebrities even to senior RBI officer were written off without any accountability. A borrower dies in air crash at Patna, lakes of rupees and employment to the legal heir was given, while the Bank was sleeping. Those officers who were blissfully ignorant of the fact and no effort was made to recover the loan were promoted to thr penultimate hierarchy while the officer who made efforts to recover, a decade after was haunted, hunted, humiliated and demoted. Where is accountability for those who never implemented the policy of the Bank which says NON PERFORMANCE WILL NOT GO UN-noticed? If any competent authority examines the statistics on how many officer/executive were pampered and promoted who either deferred decisions vis a vis those who took decision- will give insight as to what is ailing this PSB.

Author: mahesh3006

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