Messages of wilful defaulters are making rounds in the social media and the Government is silent on such important issues affecting the Nation.
These scams are not new to our banking system. The Banking laws, supervisions and procedures have too many loopholes and the bank employees, businessmen, cheats, politicians and all the beneficiaries are involved in cheating the Banks.
The Bank Fraud is no new. The present fraud or scam of this magnitude cannot be done in a short time. It is a long-term illegal and unlawful acts of all those involved.
Had the supervisory (Central Bank) authority, had strict procedures, could have prevented such mega fraud, but the central bank failed in its duty and thereby the citizens and the society became the victim of the callousness of such supervisory bank?
It seems that it all began long back, maybe in 2005 to 2010 and shifting the blame from one to the other, may not yield any results.
All the law enforcement agencies must join together and initiate appropriate proceedings to recover the lost money.
YES. IT IS POSSIBLE.
RBI-What were you doing all these years? Failed miserably to safeguard the interest of the country?
Politicians: As usual shifting the blame on one another.
COMMON MAN- The affected, does not know, what has happened to him, listening to all the media, confused and worried.
It is much worse than the TERRORISM. This is called economic terrorism, unleashed by the frauds on the innocent, honest, hardworking and dumb citizens.