Position of SBI will worsen if true picture of bad assets is exposed by CBI or AG office honestly. I have written several letters during last three years in this regard but government has turned deaf ears and blind eyes to all public comments because all top officials are birds of same feather. Every corrupt officer tries to protect and safeguard other corrupt officers.
SBI share was an attraction for investors in stock market and best choice for investment experts. But false image does not last long. Financial result has exposed partially the bad shape and critically ill health of SBI in particular and public sector banks in general. Position of other nationalized banks and state run cooperative banks is much more dangerous.
Ministers are also beneficiaries of bank lending directly or indirectly . Parliamentarians use and enjoy public sector banks to extend various loans facilities to their friends, relatives and party supporters.They misuse their powers to extend various relief to loan defaulters who are their own kith and kin. IN this way misdeeds of corrupt bankers specially that of CMD, Ed, GMs and DGMs is also shielded by ministers.
Everyone knows that judiciary is defunct in India and hence judiciary is comfortably used to perpetuate reign of injustice and reign of loot. Powers delegated to these top officials to pick and choose officers as per their whims and that too in the name of merit is used to promote corrupt culture and give award to corrupt subordinates. It is therefore difficult to imagine of any reformation until policy of Human Resource Development is truly framed and executed for real development of human resources.