Banking Scenario

One of the most intriguing things about our media is it has failed to see the malaise that afflicts India's public sector banks. There has been a sudden spurt in NPA in banks. Fact of the matter is there is no spurt really. It was there all the time. Only it was hidden away from public glare. It was not reported and auditors played a key role in that. Having myself been a part of it not long ago, I know for sure how we were discouraged to show NPA. Today, RBI has come out saying banking fundamentals are strong. If that is the case why banks had to steal on pension fund? Why banks are not contributing their share in building the pension corpus of various banks and why do they have to violate the statutory provisions of pension regulations? These are some of the unpalatable questions that banks and the government need to address. Instances of massive frauds have been on the public domain for quite sometime now and bankers are fighting legal battles all over the country. The question is if the fundamentals are strong, why should banks shy away from paying up their share in pension corpus? If fundamentals are strong, why banks had to seek and get amortization when no such concession was extended to the employees? Frauds to the extent of more than Rs. 100000 crore are committed in balance sheets of various banks.They have been falsifying balance sheets for a long time now. Strangely enough, the media that takes so much of moralistic stand on various issues is  vehemently silent on this matter when it should greatly concern them. Bankers provide economic stability to the country, farmers provide food security. And yet both of them are left insecure, left to fend for themselves. Is our banking system also going the Maharaja way and the ways of the PSUs that are facing extinction threats that dinosaurs faced ages ago? Media, your silence is intriguing.