Thursday, 21 April 2016 21:40
RTI Scan ReportWritten by Super User
RTI Scan Report of the Banking System in India:
Since, Liberalisation & Reform policies were adopted in the Banking Sector,
The subsequent Governments in India failed to put in place systemic Checks & Balances to mitigate the Siphoning-off of the public funds within the Banking System, as loans.
The subsequent Governments in India failed to check the banks from transferring their losses, inefficacies and fraudulent loan dispersals through high lending interest rates over the other Borrowers within their system.
The Government in India, Supervisory institutions of the Banking System - The Reserve Bank of India (Regulator), The Central Vigilance Commission (Vigilance), The ICAI (Audit), all of them will ensure the survival of the Banks at the cost of public interest. The public will be left in the lurch.
Published in RTI Review
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