This refers to 'Nationalised bank under lens for 5 cr SSR fraud' (TGE, May 24, 2025). The rate at which banks have been involved in scams and frauds, even nationalised banks, is certainly cause for concern. Where is the integrity of the banks, the sincerity of officials? Does anybody have a conscience?
What they need to understand is that banks operate on public money; as such, the public are virtually shareholders in banks. They make huge profits on public money and yet they choose to fleece the very public through various service charges like printed bank statements, etc.
And when a bank goes bust, the account holders are entitled to just 5 lakhs as insurance?
The authorities need to review the entire working of the banking system and ensure that all public money is fully safeguarded.
