Indian Government Own Banks
Indian government own Banks are in very bad shape due to the very high NPA of Rs 8.96 Lakhs Crores. The excellent banking system of India has now become the most ineffective and faceless. It is public money which is being taken to ride. Therefore the strong and effective measures are the need of the hours.
The main reason for such condition is the Banking recruitment system which is faulty. The Private Sectors Bank were use to recruit people on the basis of not only on academic qualification and intelligence but they were use to scrutinize the background of candidates and his character. This is necessary as person working in the bank has to deal with cash/ money in the day to day transactions. In short Bankers first requirement is honesty and strong characters. The government now recruiting bank staff on basis of passing entrance examination without examining the above mentioned quality. That is how Indian banks are in very bad financial conditions.
Indian banks are not having only high 'NPA'(i.e. Non Performing Assets) but lots of frauds in the system as reported under-
1)Central Bank of India had frauds of Rs 437 Crores in the year 2014.
2 Bank of Maharashtra had Rs 836 crores frauds in the year 2017
3) Vijaya and Canara Bank had frauds of Rs 290 Crores in the year 2017
4) It is reported that Nirav Modi and Mehul Chokshi had committed the frauds amounting Rs 14000 Crores with the Punjab National Bank in the year 2018.
5)There were also frauds of about Rs 150 crores in Oriental Bank of Commerce and IDBI Bank in the year 2011.
Besides that Government Banks have written off Bank loans of about 3.16 Lakhs Crores and out of which only RS 44000 Crores were recovered. This only show that how grave is the financial conditions of the Government Banks. The immediate strong action is the need of the time and that is to be done before it is late.
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