Wednesday, 24 September 2014

Blowing the cover of whistle blowers will harm democracy









Blowing the cover of whistleblowers will harm democracy

By C S Krishnamurthy, Sep 25, 2014 :


The recent suggestion of the Supreme Court asking the Centre for Public Litigation to reveal the identity of the source that provided the visitors' diary at the residence of CBI director Ranjit Sinha dilutes the purpose of The Whistle Blowers Protection Act, 2011 enacted last year.

The recent suggestion of the Supreme Court asking the Centre for Public Litigation to reveal the identity of the source that provided the visitors’ diary at the residence of CBI director Ranjit Sinha dilutes the purpose of The Whistle Blowers Protection Act, 2011 enacted last year. 


While anti-corruption activists campaigned long for its enactment, the government passed a resolution in 2004 under which the Central Vigilance Commission was empowered to protect the whistleblowers. As sources of information, whistleblowers often face serious consequences if their role is disclosed either through legal process or more commonly through internal investigations, which include termination or detriment in their jobs, prosecution under civil/criminal laws or even threats to their safety. 


A growing number of countries have adopted whistleblower protection laws. The right to protection of sources is well recognised in international law, more specifically by the United Nations, and it is an integral part of freedom of expression. The UN Commission for Human Rights resolution in 2005 stated that it was “stressing need to ensure greater protection...for journalistic sources”. The ‘sources’ may have data valuable to the public discourse, yet each may be willing to share only in confidence to whom s/he trusts, either due to excessive caution or fear of reprisals.

Journalists have defied court orders and have been jailed, rather than compromise their ethical duty. It is nothing new that government officials attempted to get journalists reveal their sources by obtaining subpoenas and compelling testimony. While every social communicator has the right to keep his/her source confidential, the fundamental free expression philosophy is that source protection is basic condition for press freedom in democratic society, else the vital watchdog role would be neutered and the public receive less information of news value. 


There is a symbiotic relationship between whistleblowers and journalists. Strong legal rights for whistleblowers enhance journalists’ ability to gather information by strengthening rights of anonymity, while sources will also be more willing to speak more publicly if they believe they are protected. Nevertheless, these legal and ethical protections are challenged in many jurisdictions by police, lawyers and judges who demand that journalists provide information to assist in investigations and proceedings. 


These disclosures are often the means for news feed. The quintessential case on protection of sources is the famous US Watergate affair, where the reporters exposed the abuses of power of US President Richard Nixon and his staff which led to his resignation and imprisonment of many officials. The most significant consequence of forcing to disclose the source is the effect it will have on the ability to obtain information. The sources will not trust them, as journalists’ reputation will be changed from that of an independent gatherer of information into that of an arm of authorities-that-be. Unfairness would go unremedied and misdeeds in the corridors of power – corporate or in government divisions – would never be known.


The potential source would choose between risking exposure by giving information or avoiding risk by remaining tight-lipped, while another facet is whether the regulations on protection of sources are a right or duty for the journalists. In Sweden, for instance, the law on freedom of press, a part of the Constitution, makes it a criminal offence for the journalists to disclose a confidential source. 


Battling dilemmas


The tension between protecting their sources and being able to defend their stories create basic dilemma for journalists, and they must often choose to either follow their ethical obligations or defend themselves from unjust law suits. The law that is meant to protect the whistleblowers, who reveal misdeeds, is supposed to keep truth-tellers from being punished for having spoken up. Libel and defamation laws can also be triggered to threaten to deter whistleblowers from making disclosures. 


Though whistleblowers tend to be viewed by their co-workers as traitors, when however conducted in a fair manner could save their organisations from an unfortunate predicament. When you suspect that your employer is skirting safety or environmental rules, cheating on taxes, violating government contracts, committing financial fraud or breaking the law, and if the boss is a crook, speaking up is never easy. 


While its time that those who harm or threaten to harm the interests of the whistleblowers faced sanctions, the media and NGOs should dish out a ‘how-to’ guide for whistleblowers to ‘blow’ right, which is vital for a country like India, given the backdrop of massive corruption, waste, fraud and abuse. In a world where corporate corruption is rampant and taxpayers are often left with enormous bills as a result, understanding and protection of ethical corporate whistle blowing should be an even more important education and policy issue. Though it is hard to manage subject matter, it gives a good sense of how invaluable whistleblowers are to the fundamental underpinnings of democracy itself. 


Common man too often find his life and career turned topsy-turvy because he is honest enough to “commit the truth” after witnessing corruption in high levels. They are on last line of defence when those in power decide the rules need not apply to them. From threats to our food supply to 2G to 3G to healthcare fraud to corrupt politicians ....whistleblowers are the source of our learning. Though statistics are not available, their effort to report crimes, fraud and dangers to public health and safety have saved hundreds of lives and property. 


Whistleblowers, also known as, persons of conscience, are the people who alert the public of an impending disaster, substandard healthcare, unfair elections, banks going to meltdown.... Think of a world where Enron had been prevented, where FBI stopped 9/11, where the Challenger had not blown up... Prevention saves trillions. Few whistleblowers succeed in effecting change, fewer regarded as heroes or martyrs.

(The writer is a former banker and social researcher)

Thursday, 11 September 2014

Visit to Human Brain Museum, a memorable experience


“Don’t you have brains?” “Use your brain before you talk”.  We have been frequented many times by such comments.  How does it feel when you hold the real human brain on your palm?  That’s precisely what you would experience when you visit the brain museum.

India’s only museum of its kind, dedicated to the “grey matter” - the Human Brain Museum, is located in the sprawling premises of National Institute of Mental Health and Neuro Sciences (Nimhans), Bangalore.  The museum showcases about 600 samples, brains acquired after the death of donors with the permission of family relatives,  for the cause of scientific research.


What is there inside the head, let’s take a look outside, too

When you enter the museum hall, you wonder that those “objects” displayed were once living and thinking, and currently become a subject for thinking. Whatever we think and do is directed by the brain, but how it operates is an unresolved mystery.  It is at this point Dr. S.K. Shankar, the  Head of Department of Neuropathology, Nimhans, comes to our rescue.  Even before you walk along the display where you would notice some samples marked with diseases, Dr. Shankar was all excitement to help us hold a real human brain in our hands and pose for the image, which can be cherished as a souvenir.    Simply point to the specimen, and Dr. Shankar is only too happy to share his insights.  Each brain has a story to share, be it tragic or fascinating. 

A sample shows how the brain was affected by head-injury, due to the person not wearing the helmet.  This would spread awareness about using helmets and seatbelts. While he explained the parts of the brain that affects memory, emotion, dreams …, he also warned how the habit of cleaning of one’s ears with pencil/long sharp object can produce boil in  the brain which is capable of killing a person.  An unhygienic swim can cause dangerous bacteria entering your brain through nose, which can ultimately damage vital parts of the central nervous system.   Another infected brain related to the tapeworm eggs found in coriander and raw vegetables  was depicted by small holes all around.  “This does not mean that you should not swim or eat chaat, but only ensure the pool is clean and the coriander is washed”, a reassuring Dr. Shankar said.

Specimens of brains infected due to various diseases like tuberculosis, meningitis, dementia, Alzhemeir’s, brain tumour ….had their own details. Though “schizophrenia” is a mental disorder often characterized by abnormal behavior pattern, the sample looked like a normal brain showing no external manifestation.

Brains apart, a selection of heart, kidneys, livers, intestines,  were also on display.  Brain specimen of rat, cat, duck and monkey also added to the variety.  About animal brains, Dr. Shankar says they too have emotions as humans, but the number of neurons and connections vary.  While a human adult has 8.6 b neurons, rats have 200 m and monkeys have 6,000. Monkey brain, curiously, looks similar to human brain, but has different interior connections.

Dr. Shankar not only educates about the complexities of the brain, but also relates that many of these conditions are preventable through early diagnosis.  The narration of how different organs are connected to the brains sans overlapping is not only amazing, but makes us regret how we abuse our body.

Dr. Shankar’s sparkles during the chat
  • The standard adult brain weighs between 1.2 kg and 1.4 kg and weight has nothing to do with intelligence.  Intelligence is nothing but capacity to solve a problem.
  • Everyone in the world uses brain. Gender has nothing to do with the brain.   The brain never relaxes, and active from birth to death.  If the brain is silent, the person is dead.  Brain can be active without blood only for 15 seconds.  Brain never feels the pain, but only interprets pain.
  • All animals see only in black and white.  Dogs face severe ear pain when crackers are burst.
  • All our lungs are black in colour, thanks to pollution/smoke.
  • There is tremendous amount of competition between twins in the mother’s womb.  One steals more food from the other, and one kicks the other, because of which the psychological development of the twin-babies are not the same. 
  • Cancer doesn’t have permanent cure.
  • If the mobile is hot, switch it off.
  • Brain transplant is not a possibility, as there are billions of neuron connections.  Even if one connection goes wrong, it would be a major catastrophe.  Japan, however, continues its research work on some animals.
  • Gossip helps to stimulate the brain.
  • Grand parents should tell stories to grand-children, as it helps the former to "recall" the nitty-gritties of the story.
  • Omega-3 rich food – fish, almond, walnuts are recommended in the daily intake.


Thank you, Doctor

Dr. S.K. Shankar, the brain behind the Human Brain Museum, Bangalore

The interaction with Dr. Shankar reflected his unflinching passion for spreading the knowledge and intending to achieve social goal, his academic excitement intact.  The diverse collection of samples is a clear evidence to show scientists are convincing to encourage people to donate their brains for research purposes. I am grateful to  Dr. Shankar for taking us through the  stimulating brain journey.

Also, my thanks to Mr. R.G. Subramanyam and Mr. Surendar for arranging the appointment and extending transportation courtesy, respectively.



Thursday, 4 September 2014

Happy Teachers' Day, Sir




In conjunction with Teacher’s Day, I dedicate this post to Mr. Narasimhan a.k.a Narasimha ”Vaadhiyar” of our primary School in Chennai. “Vaadhiyar” in Tamil is synonym for teacher. 

Rewind 1966/67, I don’t precisely remember the year.  I was in  the Fourth standard.  The morning school assembly was on.  Narasimha "Vaadhiyar" (NV), the powerful  “Sir”, more a terror,  always conducted the assembly.  Students and teachers were terrified of him, as he used  to mercilessly cane and won't spare even the tender children. I don't remember even parents  making any fuss about it.   Of course, there was a Headmistress, a holy cow. NV was making various announcements about exams and holidays.

Finally, as is the daily ritual, the students and teachers sang the National Anthem.  In the process, I was "humming" the musical version of the Anthem, without lyrics.  Our class teacher curiously observed it and dutifully reported to NV after the assembly, which I was not aware of. (By the way, “Teacher” then was a reference to feminine gender and “Sir” to the masculine counterpart).  After the National  Anthem was over, we moved in line towards our respective classrooms. 

The next day: the assembly, as usual started.  Announcements were made.  Before the National Anthem was sung, to my utter disbelief (and to the joy of many other students and teachers), NV throated a sarcastic reference about me, in his customary high-decibel pitch.  I thought for a moment that he was showering good words about me, which added to my confusion.  Finally, slowly but surely, he exploded that  I made “fun” of the National Anthem the previous day by singing the “musical version” sans lyrics.  True, I hummed but never in the least meant to make “fun”,  as screamed by the NV. And I was lifted aloft by him as if he held the “World Cup” in his hands, taken around the assembly arena twice to make sure that everybody gave a scornful look at me, and ensured I was sufficiently embarrassed. 

Aged nine then, even had I explained my position, I would have only been thrashed, probably for back-answering.  And I was never naughty, least of all at School (I know some of you finding it hard to digest it).  When I give a nostalgic rewind, apart from discarding the NV’s understanding of the whole issue as ignorance, I wish to know:  Is it wrong to play the National Anthem in musical version?  It is pleasant to hear the Anthem even on Guitar.  Is vocal rendition mandatory?  Playing of the National Anthem by way of musical instrument is not an offence.  The Indian Armed Forces Band have performed the Anthem in official musical version. 

All said and done, you are my teacher, nay, Sir. Teachers are role-models. I believe so.  To be so, it is a huge responsibility  There are no doctors, engineers, architects ...... without teachers. There is more to teaching than just impart the lessons of the curriculum, and the gap between a teacher and an educator is really, really massive.  We can't do away without teachers.  The best way to test is abolish education and see what happens in the next 10 years. 

"The mediocre teacher tells.  The good teacher explains.  The superior teacher demonstrates.  The great teacher inspires". - William Arthur Ward, Author

Happy Teacher’s Day, Sir, 

https://www.youtube.com/watch?v=Bh26zOjIh9I

Friday, 22 August 2014

111-year old Japanese, Sakari Momoi rocks

Sakari Momoi, retired educator, poses for a photo after receiving a certificate from a Guinness Word Records official, on Wednesday (20/08/2014)  -  Image courtesy - AP photo

Sakari Momoi, a 111-year old Japanese, has been recognised as the oldest man by Guinness World Records.  Momoi, whose date of birth is 05/02/1903, wishes to live another couple of years.  Barring some “hearing” issues, Momoi, a former teacher, is in decent shape.  Japan is the “fastest aging country and has the highest average life expectancy – 80.21 for men and 86.61 for women”.  Incidentally, the world’s oldest living person is also a Japanese, Misao Okawa (116 year-old woman). 

You and I don’t have the age to bless Momoi, but certainly we can congratulate him.  Though other details are not available, it is not difficult to identify him as the supercentenarian.  Momoi has obviously witnessed the world transitions at many stages – changing technologies, World Wars I & II, the Great Depression …..  As of now, he has lived 72 years from WW II.  Wow, he has certainly seen a lot of events in his life time, and has outlived most of the people in the world in many stages  at different times.  He is a witness to “Wright” brothers flying, the Titanic sinking, stock markets crashing, changing and toppling of governments, 9/11 attack ….  That kind of age should have probably brought enormous depth of wisdom.  Or, is it debatable?

What is the secret of Momoi’s longevity?

People must have attributed this or that for that sort of long life.  It can be basic discipline, proper dieting, fitness, exercise…, but at the base it could be their genes.  "Luck” factor, probably, could be  one of the things, as he is an obvious survivor, having avoided serious diseases and accidents.

Momoi is mentally very active, which is good cover against Alzheimer’s disease – he reads, loves poetry – those brain cells must be consistently alert, despite his advanced age.  A Japanese man who enjoys reading Chinese poetry in itself is poetic.  The longer life expectancy can also perhaps be attributed to the ability to handle stress well.  Longevity is a blessing as long as one stays physically and mentally fit.  After seeing his age of 111, it is fascinating to notice the vast gap between retirement and old age.

Is life really worth at that stage?

We see so many people living on chronic medication.  “I guess these medicines are keeping me alive” – a common confession we hear about.  And there is a lot of truth.  If you suffer from Alzheimer’s, arthritis, BP, hearing, vision ….etc. issues, it is no picnic.  If there is constant pain and a battle just to keep on living, just trying to survive the pains and medical issues on a day-to-day basis, there is nothing quality about it.  Before you figure out how to live longer,one must start focusing how to make it “lively”.

Do you believe that all the people who sacrifice so much “living”  to get this “old” have the right mindset?  Does 111 sound scary, or people would be nice to you?  How about experiencing at least one day at 100?  If you are, say 50, and look at some one who is 20, you may feel old, but when you look at some one at 80/90, your thought process is different.  There is a difference  between a present quality and speculative predictions about the future. 

We are only too familiar with views like “I would not want to live that old”, or “I wouldn’t live like that, rather I’d die….”.  But as you age, it appears you might see things in a different perspective.  In many families, we do observe that even as the parents are alert and active, the grown-up children find them out-dated.  Even if you take second-reading, Momoi has five children and probably dozens of grand children and great-grand-kids, yet he was dumped in a nursing home.  Old-age in our culture is more seen as a “curse”.

I am young and that’s how I think too

As long as I would take care of myself, I would prefer to go on living, else it is a prolonged agony.  Any second opinion?  People generally don’t think of dying, given the  numerous distractions they have.  Keep busy.  Momoi is a great inspiration to remain sharp and he speculates on how many years he would like to live. Enjoy living, there is  always a tomorrow.  Life must be funny, even at old age, I don’t know though! There can be more fun if money and health can coordinate each other.  Live, laugh, love and be happy.  Well, its upto you.

Mr. Momoi, you sport only 90, whereas calendar has a different figure of 111 for you.  Why you are shooting only for two more years?  That seems pretty realistic.  I can’t wish you a long life, you have already had that, but I wish you as many years as you want.  Sir, persons like you can be global game changers when it comes to human life span.  A good looking man for 111 – may you continue the journey to its fullest potential.  Also, the Japanese honour the elderly a lot more than we do.  In the meantime, let’s try to understand our parents and grand-parents – how they live/d a long life.

At the moment, I am immortal.




Sunday, 17 August 2014

MP Jaya Bachchan asked for it

Samajwadi Party MP Jaya Bachchan- Image courtesy: NDTV

Samajwadi Party MP Jaya Bachchan recently demanded action against Radio Jockeys (RJs) who joked and mimicked parliamentarians.  She obviously drew support across the party lines.  A few MPs from other parties remarked that “this trend is becoming atrocious”, exhibiting their level of intolerance.

After a hard day’s work, when we are struck in traffic, RJs come to our rescue, and we are thankful to them for the fun-filled chats and help us refresh and relax. Epithets like “chaiwala”, “pappu” ….were not taken offensive.  “Chaiwala to Prime Minister” is a mammoth success story.  “Pappu” didn’t take the tag serious.  Most of Lalu’s fame is because of RJs, comedians and cartoonists.  When the famous cartoonist Shankar had published a caricature depicting Jawaharlal Nehru, the latter complimented the artist, but chided him that his ‘nose is really not that long”.  Take comment and criticism with a spoon of honey, ma’am.   It is also an art to convert the satire to your advantage and popularity. 

Movies portray politicians in poor light

In most Indian movies, politicians are shown as jokers or villains.  The “Kapil comedy shows” on TV channels often mimick. Will you ban them?  Tamil fortnightly Thuqlaq editor, Cho Ramaswamy is renowned for his political satire and has not, for that matter,  spared any politician.  Can you censor the publication?  Do you dare silence him?  Khushwant Singh’s popular “With malice towards one and all” was extensively used for lampooning the politicians. None of the cartoonists ever spared any one or any act.  Incidentally, it is a major part of their job description.   You are no stranger to movies.  Sauce for the goose, is sauce for the gander. 

Joking and mimicking parliamentarians is another form of freedom of expression.  When we watch “live” parliament on TV channels, I  am sure, ma’am, you will agree with me there is no need to listen to any RJs.  Your colleagues on the floor of the House provide sufficient stunt and comedy shows.  We can give nice titles.  “Pepper spray”, “Sleeping beauties”, “Conspicuous absenteeism”, “Guest appearance”, “Tearing papers/bills”, “Indulging in fist-cuffs”,  “Fight for Room No. 5”…… please help me to continue the list.  We have ministers who cannot distinguish a “degree”  from a "certificate”.  MP threatening to “rape”.   Nearly 30 per cent of the MPs reportedly have criminal records.  The decorum of the House is consistently floored. 

Non-performing and mal-performing parliamentarians can be mocked and mimicked.  If media (in any form), doesn’t point out, who else?  As long as it is not vulgar or derogatory, a witty humour or mimicking is perfectly valid.  Our politicians have forfeited their right to muzzle the media due to their own actions and inactions.

Do we really have parliamentarians?

The real ones like Acharya Kriplani, Jayaprakash Narayan, Dr. Ram Manohar Lohia, Somnath Chatterjee, Atal Bihari Vajpayee, … and a handful of others can be found only in our history and politics text books (we should guard that too, as history these days are being ‘rewritten’). 

I hope the whole thing is not a farce that she is trying to claim some publicity. Let us not forget that she has been “nominated” by a party that makes fun of rapes. When her boss, Mulayam  Yadav said “Boys are boys” over the punishment for rape, where was her anger?

This is real life, not show business

The slandering and counter-slandering during election campaigns are there for all to see and believe. If our parliamentarians act like clowns, making fun is an obvious corollary.  The Speaker should initiate a debate in the House on “Why people hate and mimick  politicians?” and make it mandatory for every Member to speak on the topic (attendance compulsory, sleeping not allowed.).

Respect is earned, gagging doesn’t serve the purpose, not in democracy.  Even as a matter of strategy, Ms. Bachchan has erred.  By needlessly raising trivial matter, she has reminded the RJs and the media about what else they missed out.  Akbar has not banned Birbal.  Krishna Dev Raya has not banned Tenali Rama.  “Bachchan” cannot ban RJs.  By the way, ma’am, what happened to your funny bone?  If mimicry is not an art, well, acting is not, as well. 

Hypocrisy is an integral part of our democracy.  When there are MPs who are jokers and black spots and when parties have MPs with smelly foot in their mouth, the “RJ”-tribes will only multiply and flourish.  Let people identify you by your deeds, and demonstrate yourselves beyond sledging. If you can’t take pun in any form while in public life in your stride, its time for you to move on. Its time the melodrama is drawn curtains.  Thanks to Honourable MP Bachchan, RJs, for once, are in the limelight.  On a serious note, our elected representatives must learn to command respect.  Long way to go………


Tuesday, 12 August 2014

Bank frauds are direct attacks on systems and procedures










Wednesday 13 August 2014
News updated at 2:19 AM IST 
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Bank frauds are direct attacks on systems and procedures

C S Krishnamurthy, Aug 13, 2014 :

The Central Bureau of Investigation (CBI) recently arrested Syndicate Bank Chairman and Managing Director (CMD), Sudhir Kumar Jain and others for indulging in corruption over extending credit favours. 

 A report citing Jain, accused of taking Rs 50 lakh bribe, disturbed the conscience of the “faithful and friendly” Manipal-based bank.

The difficulties in the task of detecting internal frauds were realised ages ago.  The problem continues to be difficult and Sudhir Kumar Jain reminds us of that. The sum of Rs 50 lakh seem small given the powers vested in the CMD.  While the list of bank frauds is a long one, one can’t miss out the Ex-Indian Bank CMD M Gopalakrishnan who was sentenced to one-year rigorous imprisonment for allegedly causing a loss of over Rs 30 crore to the bank for approving loans without proper security between 1992-1996, and was subsequently found guilty of conspiracy, criminal breach of trust, misconduct and cheating under various provisions of IPC and Prevention of Corruption Act.

While money and crime are made for each other, this appears only a tip of the iceberg.  A wider net might reveal larger cupboards across more banks.   If the loan is huge, probe if any “consortium” racket is in play. Leading banks like SBI, PNB and others have led the major consortium advances to top borrowers in the country.  Frauds are said to be happening in corporate loans.  Beyond financial losses, fraud has other negative consequences that impact an institution’s reputation, customer loyalty and the confidence of the shareholder.

CBI sources reportedly said that Jain “has allegedly taken Rs 50 lakh as bribe from Bhushan Steel for not declaring loans of nearly Rs 100 crore as Non-Performing Assets (NPAs).”   NPA refers to bank loans, where the borrower has failed to make interest or principal payments for 90 days. The share-holders should also wake up. Jain has apparently taken unfair advantage of his position through manipulation and abuse of privileged data.  He has allegedly given approvals beyond his bounds, for a price.

How safe is it to trust the RBI figures about the NPAs, the virus affecting the banking sector, in the context of willful manipulation of figures?  Are the profits shown in the financials true and correct? Recall the infamous Satyam scam, where the Indian arm of PricewaterCoopers, the statutory auditor was fined US$ 6 m by the US Securities and Exchange Commission  for not following the code of conduct and auditing standards.  Also to be verified is if the internal and external auditors were controlled by the CMD.

Why employees defraud?

Why do employees defraud? Is it an opportunity or attitude?  The underlining issue that is being troubled is trust, which is believed to be inherent in our nature, and in the operation of banks.  Indeed, higher level officials, motivated by greed, have more power, greater access and less likely to be controlled.

Largely hidden, employee fraud isn’t exactly something banks want to talk about, as they don’t want the public to lose confidence in their institution. It happens, generating huge losses.  Tellers, managers, executives… they all have a chance to embezzle. Banksters, who can be found at every level of an organisation, have the potential to swindle the customers, tarnish the reputation and demoralise good co-workers.  As a few executives have misled from the front, every time a new official takes over is looked upon with suspicion.  Studies have, time and again, identified willful defaults, frauds, mismanagement and misappropriation of funds as primary reasons for the mounting NPAs. Its impact: the whole machinery would be preoccupied with recovery procedures, rather than focusing on expanding business.
 I am aware of a dispatch clerk in a public-sector bank, about three decades ago, using two stamped-envelopes separately for the same destination, instead of one.  Despite pleading “oversight”, the management charged him with “negligence and causing extra expenditure for the bank”, and postponed his increment by six months, for the “extra expenditure” of 20 paise. The higher the grade, the harsher must be the punishment.  Else, there is little difference between a juvenile crime and a “qualified executive” crime.  The penalty for the “executive” betrayers should be firm and fair.

Why such stories repeat in PSU banks? It is possible there is a lack of monitoring of warning signals at state-run banks. Who is to oversee RBI’s vigilance?  Bank’s Board of Directors are expected to select competent executives, effectively supervise the bank’s affairs, adopt and follow sound policies and objectives, avoid self-serving practices and observe banking rules and regulations. Interestingly, there are officers/employee nominees on the Board.  Even their agitation questioning the irregularities of the banking system can be more specific, well-directed, than a touch-and-go exercise.  The need for a code of conduct has recently been echoed by C H Venkatachalam, general secretary, All India Bank Employees’ Association: "It is high time the government frames a set of rules and conduct regulations applicable to EDs (executive directors) and CMDs. It is all the more necessary because banks deal with huge public money and important financial decisions are taken by them.”  Banks should design fraud awareness training programmes for all levels, while the vigilant teams in each bank should be strengthened with the right skills and right officials.  Can we expect the Modi-led government that has promised to establish a system which eliminates the scope for corruption through public awareness and making it transparent?

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Also read: http://kmurthy608.blogspot.in/2012/06/customer-delight.html
                http://kmurthy608.blogspot.in/2014/01/beware-your-dormant-account-can-be.html

email: krs1957@hotmail.com

https://kmurthy608.wordpress.com/2015/05/18/need-to-safeguard-atms/