Customers, Banks and Regulators

It is a clear evidence that customers out smart banks to have their way and banks outsmart the regulators to circumvent the rules and regulations. There are some regulators who also feel regulation and supervision are unnecessary particularly in a liberalized atmosphere. This message is often conveyed through various means and the banks take full advantage of that.

Dr.T.V.Gopalakrishnan

( This comment is in response to the news item that HDFC banks suspends 20 of its officials for helping the money laundering activity that appeared in ET dated 17/3/13)