A huge  cover-up?

In this age of Whatsapp and Twitter, many of us may have read a story wherein a gang of dacoits loot a bank and one of the younger members of the gang wants to count the booty there and then in the bank itself. But he is wisely advised by an elderly dacoit that they need not count it there as it will only increase the risk of being caught, and also they do not need to count it at all as the entire media will blaze the amount robbed in no time and they can simply stay cool and watch various TV channels headline the story. But the elderly robber is in for a rude shock when he watches TV channels quoting the amount at `10 crore wherein repeated counts of the booty confirm it to be only `2 crore. He soon realised that the remaining `8 crore had been tricked away by a smart coterie of bankers themselves; the crony capitalists, the law-enforcing agencies, accommodative media and politicians patronising all of them. The recent NPA crisis of public sector banks is in fact such a story playing out in the Indian banking system and it is set to worsen and pose a real threat to the financial stability of the country, thereby endangering even national security.



About gfilesmagazine

gfiles is the country's first independent magazine written, designed and produced for India's civil services—the vast and formidable network of bureaucracies and public sector organisations that provides continuity and stability to this nation's governance.
This entry was posted in Banking. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s