Krishnan 1506 days ago

How wonderful is the functioning of the RBI! First Public Sector Banks help in siphoning out thousands of crores illegally to foreign tax havens. The transferred money is almost certainly looted from PSBs, meaning public money. When the illegal transactions became public the RBI steps in and "fines"the PSBs. What a joke! So PSBs will use more public money to pay these fines. Both ways the Indian public are the losers. Public Sector Banks are headed by political appointees at the level of the Executive Director(s)/ CMDs/CEOs who also pay a bribe of up to a 100 crores to the politicians to land the job. This bribe is also paid by way of fraudulent loans the funds of which are routed to the political parties. The EDs and CMDs/CEOs owe no allegiance and have no commitment to the banks where they are appointed. Their job role is simply to obey their political masters and enjoy the perks attached to their positions. They systematically destroy the banks, give away public money by way of fraudulent loans like Kingfisher and abuse the employees. The end result is the loss of lakhs of crores of public money. What is the use of imposing fines on Public Sector Banks when the fine is going to be paid using public money?