Scheduled Banks — Decline in Services

During[protected], the size of private banks in India, were not much larger and were within total control of the management and RBI.Scheduled banks' CEOs were appointed by RBI that too from RBI's cadre not below the rank of Chief Officers.These CEOs were very strict in complying with RBI's directives and this helped the banks function smoothly and without much embezzlements.These banks could also provide a better service to their customers.Gradually, these banks started to expand the net work of their branches and even to spread their wings across the country, in an ambition to make the size of them larger and garner more revenues.This paved way for more man- power and corruptions too.This led to nepotism
and undue favours to some elite groups, ultimately tarnishing the image of the banks.The managements of these banks had to become susceptible to the high handed pressures.As a result, unworthy and unqualified hands were absorbed in.So, naturally, these employees assumed a lot of clout and were behaving with haughtiness.They used to work a little, but committed
blunders, often.The managements had a soft corner for these employees with high- handedness and they often were ready to come to their rescue.
This dented the quality of the operations and name of the bank, steeply!
One can find most of the employees of scheduled banks absorbed in
from elite groups namely Judges, highly positioned Police personnels,
politicians, rich landlords, RBI executives, and so on.Ultimately, these banks deviated from the righteous path.Narayanans, venkataramans, Balasubra-
-manians, Padmanabhans, vaidyanathans, sekars, R.G.Krishnans were involved in the history of these banks.Naturally, these banks started assuming autonomy and are now functioning on their own without
adhering to the norms and directives of RBI.One who was acting as an adviser to a political party was held in high esteem by a private bank.
The bank was in the habit of seeking his help whenever needed.As a gratitude, his son was absorbed in the bank and gradually elevated to the top position of the bank.RBI should not let the banks loose from its clutches.More vigilance by RBI on banks should be exercised.RBI should hold the reins of all banks!