Bank Nationalisation- a mirage in the desert

When Banks were nationalised in 1969, the greatest publicity that was made was " Bank's money which were in the hands of a handful of people will now be available to the common men" All those who are sensible never believed in this false promises, because a dialogue from a popular Hindi movie goes as "Promises are made no to be kept"

Have we ever thought that when we do not believe in nationality then who cares for nationalisation and that is a simple logic. Most of us especially those who claim themselves to be intellectuals are in all praise when it is a question of America, Russia, China, Japan and even smaller countries. But they are in the habit of finding faults with our own country. They probably forget that they also have certain amount of contribution for this situation.

Having served in a nationalised bank for long 36 years, I have closely and keenly observed all the irregualrities followed with all sincerity in the Banks. The result is growing numbers of frauds, economic irregularities and large number of loss making branches. It is an unbelievable fact that those who are responsible for this are often in the good books of the bosses and they go on rising in th ladder of promotion whereas those who speak of principles are taken to task. I have found people who request the authorities to get the a posting as per their wish but they should be made the branch manager only. One can very well imagine the motive behind this request. I have seen a branch of a leading Bank which had sanctioned loans 10 times to the amount of deposit. No one either the inspecting personnel or the administrative heads have pointed their fingers at this and one fine morning the branch was closed down. A cashier

of a branch of the same bank in Odisha has pocketed large sum of money which he had received across the counter from the public and had handed over counterfoils to them . The complaints lodged by the public with the administrative office went to deaf ears. Ultimately the public locked the branch and sat in DHARNAS when the said cashier absconded. But no one visited the branch though it is hardly 60 kms away from the state capital. Loan waivers, OTS schemes are very cunningly handled to benefit the persons who are close to the concerned officials

These are a few example of a leading bank in th state. The whole scenario can very well be imagined by people with sensible way of perception. Even then we beat drums and blow

trumpets and claim that bank nationalisation has been very successful, which is far away from reality.Mr. F.M can you hear me ?