Why talk of repentance in
leisure only? The appointment of Directors is at the will and pleasure
of the influential politicians and bureaucrats and the considerations
are very many better not to be spelt out.The fit and proper criteria
based on qualifications,
experience, specialized knowledge in the field of banking, accountancy,
rural credit etc for appointment of Directors is only on paper and the
contacts and connections are the real fit and criteria followed in
practice is known to all in the banking system.Corporate Governance is
introduced with lot of propaganda and it is practiced more in breach is
an open secret.The way loans are sanctioned,accounts are
restructured,and bad debts are written off is an established proof that
directors on the Board and corporate Governance practices have no role
to play in improving the functioning of banks. Banks suffer, economy
suffers,depositors suffer,good borrowers suffer all because of lack of
Corporate governance and the benefits are enjoyed by Nominee directors
and bad borrowers. Some exceptions may be there but they will have their
own stories to suppress and suffer.Ethics,honesty and integrity are
unfortunately not available in the market and these have to be
cultivated by practice,culture and commitment.The present atmosphere is
certainly unsuitable for any one to even think of. Better to keep away
and suffer all time and not at leisure.
Dr.T.V.Gopalakrishnan
(This has been published in Money Life in response to the Article Directors of PSBs the Ground Reality)
No comments:
Post a Comment