tag:blogger.com,1999:blog-36922322.post4657721900196240375..comments2024-03-13T10:09:51.866-07:00Comments on How far Banks are Safe: Staff Accountability Exercise On High Value NPA never Takes PlaceDanendra Jainhttp://www.blogger.com/profile/06877409854811449220noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-36922322.post-19408852248628744412012-10-22T21:44:26.078-07:002012-10-22T21:44:26.078-07:00I fully agree with what Mr.Jain has written about ...I fully agree with what Mr.Jain has written about high tickrt NPAs in banks and its impact on Indian economy and the forthcoming bi-partite negotiations on wage revision.It is not only extra leniency shown by the consortium bankers while sanctioning such proposals, they exert tremendous pressure on lower level processing officers to prepare the process note in a particular style overlooking all the banking norms. Processing officers at lower level knowing fully well about the blatant violations in lending norms, only project the positive aspects, if any, of the group and remain totally silent about the negative aspects.<br />It is further to be noted that bankers who are not in the consortium also sanction Short Term Loans to these groups, which is against all lending norms. They should have insisted for taking STL from their consortium bankers and not from other banks.Please note that these STLs were given at a rate of interest as low as 6% till RBI came out with instructions about minimum rate even for STLs. These STLs - though by nomenclature sound STL - are in fact not really short term in nature. Since RBI guidelines say that STLs should not be renewed, and there should be atleast 1 day gap before another STL is sanctioned, our bankers used to ask thr company to adjust the STL atleast for 1 day and then used to sanction fresh STL. The crooked companies used to take seperate STLs from other banks and adjust the STL of the Bank with that money and take fresh STL next day. This is all in the know of the bankers. This itself is a mega financial fraud perpetrated by the Top Bank officials on banks and public. These people even if they are retired should be punished by putting them into jails for rest of their life so that future generation top brass of the banks desist from committing such financial crimes / frauds.majji js murthyhttps://www.blogger.com/profile/16340000076695337736noreply@blogger.com