Banking and Finance is a heavy subject. Science and most recently computers, information technology have been in popular circulation , as subjects of great interest . Apart ,from being interesting , they are lucrative . The software hype has created billionaires in a short time. No wonder ,the craze for such courses is growing in supersonic speed.
Banking may seem old, but yet it is new. It has been in existence from time immemorial. It gets transformed and takes up a modern perspective ,according to the period. Its norms are altered, modified , and revoked, freshly added in respect to changing eras.
This measured ramifications render the banking subject almost new. An absolute mastery of the subject is a near impossibility.The reformations are carried out ,after thorough analysis.Committees are set up to discern ample possibilities and vivid scope that are available to promulgate vast interactive transcriptions.
The committee’s are formed ,with great care and with greater expense.It takes a minimum of three years to present its report. The conclusions are not accepted in full form. The clauses ,which get the approval of the majority of the bankers are assimilated . The balance, is shoved into the oblivion. The regulations concerning the corporates, are widely acclaimed. The strictures that deal with credit cards system also find a cordial welcome. But , that which deals with the employees , insinuates a confusion ,so that the specific recommendations centering on these issues get buried.
The interpretation of the norms, as put forth by the committee , differs from bank to bank. This contradictory readings jeopardise the customer. The Reserve Bank Of India , set up the Narasimhan Committee to give a face lit to Banking concepts. Its reports , present a rare insight on the NPA’s . Accordingly, the non performing assets ,should not find a place in the balance sheets of the banks. Banks , practised a, phenomenon,which apparently predicted a distinct distaste to their integrity. They completely cooked up accounting details. They showed in their balance sheets , that they have wiped off the non performers, by collecting their dues., which in reality , was not performed. Narasimhan Committee , firmly ordered that this insincere, fictitious proposition should not be carried out. The window dressing has led to various anomalies that extend a vast deformity and mandatory difficulties.Public sector banks in India , have come with their own definitions, which are sometimes ridiculous, but mostly very risky and erroneous.The gross default has led to a disaster unpredictable.
Meenas Poems 