The Hindu Business Line : OBC complaints

I am at a loss to understand why the RBI — or for that matter CBI — has to wait for a private bank to be merged with another nationalised bank before initiating action, especially when it is a matter of safeguarding public money.

By the time a weak private bank is merged, investigation is completed and then referred to CBI, the fraudsters dispose of all the illegal gains. It is a well-known fact that staff of private banks always complain to the RBI or even Finance Ministry about the wrong doings of the management.

It is high time RBI takes the initiative to refer such serious cases to the CBI as and when it comes to know of such serious frauds.

Balasubramanian Ramanathan

Bangalore

Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in

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