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Shifting Responsibility

2/21/2018

Strangely the Union Finance Ministry has asked the Reserve Bank of India how such a big financial scam of Punjab National Bank has not come into its attention? It is outright shifting the blame and responsibility on others to save itself. Actually it is not the Reserve Bank but the Union Finance Ministry is the owner of Government Commercial Banks as Government of India undertaking. The directors of Commercial banks are nominated and appointed by the Union Finance Ministry. The Chairman and Managing Director of the Commercial Banks are the appointees of the Government. The Government Banks are not directly under the Reserve Bank. The responsibility of these banks is solely on the Union Finance Ministry. It is totally wrong for the Finance Ministry to ask the Reserve Bank and blame it for scam in the Punjab National Bank. Sometime back in Bihar there was bank loan fraud case in “Srijan Society”. The Reserve Bank asked the Bihar and Central Government that it saw something fishy there and it has be audited and further probed. Many Bihar politicians are involved on it. The CBI inquiry ordered but nothing happened so far. Even in PNB scam two Delhi Jewellers lodged complaint about Mehul Chokti, Gitanjali and Nirav Modi with the Finance Ministry, Enforcement Directorate and above all with the Prime Minister’s office also. The PMO informed the complainants that there complaints were closed as there was nothing substantial in it. The Allahabad Bank is also involved in the PNB fraud. One of its director Mr.Devendra Awasthy suspected something wrong in the dealing with Nirav Modi and his companies. He alerted the bank and ministry. Instead of taking action the authorities asked Mr.Awasthy to resign as director. The PNB after the transfer of Gopinath Shetty itself uncovered this scam. Otherwise there were certain some indications and information about this fraud going there. Nirav Modi is appearing in group photo of Prime Minister Mr.Narendra Modi at Davos in Switzerland. It is a lame excuse that the Government and the Prime Minister were not aware of it. It is set practice and protocol that in all such group photo it is prior decided who would be there and position in front row and others backlines. Everything is fixed nobody can intrude and get included in the photo by himself. Nobody can gate crash in the itenary of the Prime Minister. It is stark clear that Nirav Modi was included in that photo officially and Government cannot disown the responsibility. During the demonetization Nirav Modi was very active in changing of currency and sale-purchase of diamonds and jewellery. The PNB scam is not just a sinister deal between the Banks and Modi-Choksi etc. The political high ups are there in much bigger roles. The Defence Minister Nirmala Sitaraman and Communication Minister Mr.Ravi Shankar Prasad are speaking on PNB issue on behalf of Union Government who are not concerned with the work of Finance Ministry and the Prime Minister Mr.Modi and the Union Finance Minister Mr.Arun Jaitley are maintaining stormy silence on it. The Congress President Mr.Rahul Gandhi asking the Prime Minister and Finance Ministers to come out with an explanation on it as they owe it to the Nation.

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