Finance, Forex and Investments

Why policy of Whistle Blowers is not success in Indian Banks?

Central government announced policy of protection to whistle blowers to improve vigilance administration long back. It is remarkable to say here that whistle blowers are those working staff who secretly report to CVC about the corrupt practice such as bribe based lending or commission based contractual work or purchase of goods and services of his higher authority or his colleague. According to this policy Central Vigilance Commission (CVC) is authorized to receive written complaints for disclosure of any allegation of corruption, misuse of office, abuse of power and recommend appropriate action. Every Public Sector undertakings including banks also announcd similar policy advising staff not to be silent spectator of corrupt practice in the office or branch they work. Inspite of such policy announcement and subsequent reminding circulars for the same there is no actual response from staff working all over India. It is an open secret that cancer of corruption is all pervasive and widely rampant in all offices and branches.Still honest staff thinks it wise to be silent spectator of all unhealthy and unjustifiable actions of powerful persons inspite of the fact that bank management tried to convince whistleblowers by saying that staff can submit such complaints of allegation of corruption in writing in a sealed cover directly to CVC without any fear of repercussion. Rather bank management has announced incentive scheme for such whistle blower. Corruption as a matter of fact includes not only giving bribe or commission. Higher management or powerful bosses can indulge in various other types of corrupt practice which induce and inculcate unhealthy practices in offices and branches they control. Whimsical posting , whimsical promotions of yes-man and flatterers superseding so many talented workers and arbitrary transfer by higher authorities are carried out without any hindrances from any corner. Higher authorities can do so by using powers of discretion given to them in promotion policy by way of interview and in transfer policy by showing exigencies of bank’s work. ‘ Any officer who creates impediments in the path of corrupt bosses in earning bribe and commission or in getting golden gifts or in getting red carpet welcome in five star hotels from his yes men serving in branches and offices under him is very easily removed . Any worker specially an officer who is a considered would- be whistle blower, a prospective complainer of evil works of executives, he or she may be transferred to such a critical place that his or her family life and social life becomes hell. Bank management has power to make an officer as Branch Manager (apparently incentive but practically a punishment) and post him to such a remote place that he cannot visualize even peaceful living of his or her family. Such honest and talented officers are transferred from one corner to other extremely far located other corner even violating normal transfer policy. Such honest officers will not be sanctioned leave when they desire. Even slightest mistakes of such honest and prospective whistle blowers are viewed seriously by corrupt team of officers in controlling offices and they are rebuked , humiliated before a gathering and what not until they feel isolated, frustrated and attain a position of depression. On the contrary officers who are yes-man and flatterers of corrupt bosses, who earn bribe and share with bosses, who extend five star welcome to bosses, who on the excuse of inauguration or a function call the bosses and offer costly gifts are given choice posting , quickest promotion and given whatsoever they desire. Actions of almost all executives demonstrates that they like those officers who earn money and gifts through lending or purchase of goods and service and honestly share with bosses called as executives. Rather such corrupt team of executives award junior level corrupt officers not only by giving them cream posting and unusual and abnormal promotion but also praising them before the mass gathering. Obviously policy of incentives for whistle blowers introduced by corrupt team of executives sitting in top posts becomes a laughing stock for ground level honest officers.

Public Comments

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