POLITICS

This is History (843)

Only a fool learns from his own mistakes. The wise man learns from the mistakes of others.

Who is responsible for raids ?

There is a topic of discussion as to who made Punjab National Bank scandal public which resulted in raids. Is there a move by certain forces to malign the NDA Government ?

Seniority is no criteria in Congress Party

In the new Congress  headed by Rahul Gandhi, seniority doesn’t counts. It is a known fact that Kamal Nath is the senior-most, well experienced Congress leader in the party. Where is he now ?

Golmaal..

My friend who is a VP with a Private Bank meets me for Coffee at a Cafe and over coffee and muffins we get chatting.

Friend: Cricketwaala....Daruwala....Heerawala.... Penwala...

Me: Yaar I've heard of Daruwala.... are the others new Parsi surnames...

F: No... scamsters...

M: Achaa... got it.. coming to NiMo story...or Heerawala..... we know he wanted Foreign Loans... much lower interest rate... and natural hedging as his earnings are in FE.....but how could  the entire scam go on for so long without being detected...

F: First..the Swift ...maker... checker and authoriser were on board... and so was the one who would receive the Swift confirmation .... the overseas Bank would send a Swift confirmation in response to the LOU Swift... so all these guys were on board.... and to keep them all in the same post for 7 years and the scam going for 7 years..... there would be some Senior PNB Bankers too.....

M: How  come the messages did not show up in the Bank's core Banking system...

F: Would  have if PNB had kept up with times... and linked Swift to CBS ....all Private Banks have done this...CBS is a software for recording transactions, storing customer information, calculating interest and completing the process of passing entries in a single database....

M: But NiMo kept the scam going because he must have been paying back ...

F: No he just covered the old LOU exposure with a new LOU..... in Credit Cards we call this Kiting...using one Credit Card to clear the debt of another Cedit Card...

M: These guys must have been paid of handsomely...

F: I hear 2% of the LOU .... 800 + crores....real 'talent' here... first to pull off the scam and then stay off the IT scanner despite making such money.... after all they would have invested the money somewhere... one way possible is their dues were credited to their overseas accounts... CBI will find this out..will lead to a chain of investigations in other Departments too...

M: Now a new scamster... one Kothari of Rotomac Pens...he's been arrested...3000 crore Golmal.....

F: UPA days were the best days for Scamsters... like someone asked a Litigant... koun sa Lawyer kiya hai...the Litigant responded... Mein ne toh Judge karr liya hai...for Loans these scamsters got pally with the powers of that day..... NiMo and Choksi  had very powerful links.....

M: Yes... that is how whistleblowers were silenced and hounded out....why even their resignation letters were dictated to them...

F: And mind you funnily and oddly RaGa is trying to embarrass Modi though the scams took place during his Mom's Rule... it'll all blow up in his face in due course...

M: Any new regulations put in place..

F: One Banks have to submit weekly reports to RBI...then....Delinquent Loans above $ 300 million to be resolved in 180 days. If unresolved Debtor to be dragged to Bankruptcy Tribunal within 15 days. Say goodbye to Debt Restructuring... CDR... SDR & S4A plans and Banker haircuts...and now Swift to be linked with CBS in PSU Banks...

M: What is the one thing you expect from Modi .... which in your opinion can save the Banking Sector..

F: De-Nationalise Banks... sorry Privatise Banks.... today HDFC alone is ahead of 22 PSU Banks put together... PSU Banks eaten by NPAs....

I do a thumbs-up...we pay the tab and move out....

Disclaimer:  Satire. Not meant to influence, inform, insult or cast any aspersions. Purely for Entertainment purposes only. With inputs from MSM, SM and Blogs  

VJS