Some of the aspirants for bank License are involved in construction activities and have indulged in all possible mal practices and taken the buyers of flats for a ride. Fudging of accounts, non payment of Corpus funds collected and violation of the laws of the land particularly relevant to the land and properties etc have been observed to be a rule rather than an exception with these construction companies and many cases have been pending against them in various courts. Since banks deal with basically depositors' money and their safety is the utmost concern of the Reserve Bank and the Government, the aspirants for bank License have to be necessarily scrutinized and found to be observing and complying with the laws of the land and have been fair in dealing with all their customers. Adherence to ethics and prudence to the accounting principles cannot be ignored by any prospective candidate for bank license. Will the RBI ensure this?
Dr.T.V.Gopalakrishnan
Dr.T.V.Gopalakrishnan
No comments:
Post a Comment