oppn parties How Easy It Is To Loot and Scoot

News Snippets

  • Crude prices fall sharply as Saudi Arabia assures normal production in a few weeks. Prices fall by 5.4% to $65.30 per barrel
  • Sensex tumbles 700 points over fears that rising crude prices will deal a body blow to the tottering Indian economy
  • As Rajeev Kumar fails to appear before the CBI despite several notices, the agency forms a special team to locate and apprehend him
  • S Jaishankar says Pakistan is not a normal neighbour and its behaviour is a "set of aberrations"
  • External Affairs Minister S Jaishankar says PoK in Indian territory and the country hopes to have physical jurisdiction over it one day
  • Barasat Sessions court near Kolkata rejects Rajeev Kumar anticipatory bail application citing lack of jurisdiction as the reason
  • PM Modi celebrates his birthday with Narmada aarti and later has lunch with his mother.
  • All 6 Bahujan Samaj Party MLAs merge with the Congress in Rajasthan
  • Bengal CM Mamata Banerjee to meet PM Modi on Wednesday, state issues on the agenda
  • Pakistan to open Kartarpur corridor on Nov 9
  • Rajeev Kumar, ex-police commissioner of Kolkata and wanted for questioning in the Sarada scam does not appear before the CBI despite the state administration requesting him to do so
  • Supreme Court asks the Centre to restore normalcy in J&K but keeping national interest in mind
  • As Trump accepts the invitation to attend a programme in Houston with PM Modi, India rushes to settle trade issues with US
  • After drone attack on Aramco's Suadi Arabia facility, oil prices jump 19% in intra-day trading causing worries for India
  • Imran Khan raises nuclear war bogey again, says if Pakistan loses a conventional war, it might fight till the end with its nuclear arsenal
Sunni Wakf Board and Nirvani Akhara write to the Supreme Court for a negotiated settlement to the Ayodhya dispute
oppn parties
How Easy It Is To Loot and Scoot

By admin

About the Author

Sunil Garodia By our team of in-house writers.
People are talking about how easy it is for economic offenders to flee the country. People are saying that this is possible only because they are tipped-off about the impending move against them. They recognize that this is possible only because someone somewhere sells his soul for a few lakh of rupees and provides the information to the culprits. People assert that this is not done by the political friends of the culprits but by some officers in the banks which these offenders loot.

People say that this situation is largely a result of the rampant corruption prevalent in the lower echelons of the bureaucracy and the officialdom. They opine that scams such as the one in the Punjab National Bank are a result of collision between unscrupulous businessmen and greedy bank officers and will continue to happen regardless of who is in power at the Centre.

People also point out that despite Nirav Modi and Mehul Choksey’s perceived closeness to the current regime in power, the scam started when the UPA was at the helm. People are amazed as to how, despite several checks in place, banks allow this to happen. They are also questioning the role of RBI in regulating the banking sector. The role of chartered accountants in passing accounts of banks quarter after quarter without reconciling major accounts is also being questioned by the people.

People seem convinced that the gravy train in these scams is well spread out and people say that they are not sure whether there are political payoffs in the whole scenario. People say that these scams are being carried out only by bank officers and businessmen without the knowledge of the political class. That is why people are concerned about the corruption in banking sector that makes this possible. People say that the time has come to develop new accounting standards for the sector that makes it mandatory for reconciliation of LoC’s, LC’s and LoU’s regardless of date of issue and expiry.