Friday, July 12, 2013

Sycophancy and Opaque Promotion Policies Are Biggest Risk for PS Banks

.......It will not be wrong to say that present high level of NPAs is mainly due to sycophant and dishonest promoted officers who have reached the top of the ladder. Although, at this stage, CMDs, MoF officials, RBI officials are in a  denial mode as they are enjoying the cream,  but they will realise soon when financial crisis over takes these banks. (RBI has started realising the flouting of KYC norms of banks  ONLY after Cobrapost expose !).   At the end of every quarter CMDs of different banks announce that things will improve from next quarter on NPA front, but it is going from BAD to WORSE with each passing quarter.  Our PM, FM and bank CMDs keep on blaming the global scenario (SBI Chiarman is in the habit of putting all blames on RBI Governor and non reduction of CRR / non payment of interest on CRR)  for all the ills of NPAs........

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