DANGERS OF ALLOWING INDIAN BANKS TO OPEN BRANCHES IN PAKISTAN

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Government of India is going to commit another blunder by allowing certain banks to operate in Pakistan. They should understand that these banks have failed to comply KYC norms in domestic branches of banks, monitor their books properly, have failed to keep their assets in good condition and failed to keep their man power happy and devoted performer. In any organization where number of corrupt minded persons are in huge number and where corrupt persons are more effective and powerful , one cannot imagine of compliance of statutory , legal , social and financial discipline honestly.

Any foul game and all types of conspiracy can be executed to disturb India just by paying some money or offering some wine and wealth to an official working in any office. Department of Customs, ED, Border officials and all are clouded with persons of doubtful integrity and this is why pilferage are taking place , illegal crossing of borders, arms are being illegally imported unabated in India since long and what not.

Even foreign banks operating in Indian land and which have outsourced their business in India are now under scanner because of large scale money laundering and help to drug smugglers and terror groups. Now if these banks are allowed to operate from a world famous terror center Pakistan, one may imagine the disaster likely to grip already sick banks and sick economy of the country.

I hope the ruling party or opposition parties who claim to be guards and patriots for the country should reconsider their decisions of allowing Indian banks to operate in Pakistan. Everyone knows that bus services and train services started between India and Pakistan are being utilized by foreign based terror groups to export terror to India.

It is open secret that conspirators and enemies of India are bent upon disturbing India from all angles, financials, and social and now through internet too. And terrorists get success in execution of all their bad intended plans. By SMS and using fake website they created panic during last week. Nothing is in control of India. It is painful that they first allow miscreants to enter into India, mix with Indians and completely execute their mischievous task and then Indian government cries for dialogue.

Please for God sake do not add fuel to fire. Please do not play with fire. Enough is enough. Please do not make experiment after experiment with Pakistan and endanger the unity and integrity of the country. Naxal, Maoists and other extremist groups are in good number in India and are already working as agents of foreign based terror groups to disturb peace in India and now they will have financial help through Indian banks operating from Pakistan and vice versa.

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RBI and Government of India have been crying and impressing upon bankers to open accounts only after strictly compliance of provisions of Know Your Customers called as KYC norms and anti money laundering act but state run banks in general have failed to ensure hundred percent compliance of laws in this regards and the bitter truth and ground reality tells that compliance has been less than 20 percent till date .

Despite all threatening to banks working in India, government banks have failed to ensure 100 percent KYC compliance, how can they be expected to ensure the same in Pakistan where all works are possible after application of intimidation and coercive tactics and where role of wealth, wine and woman is predominant in every sphere of life.

At least past record of Indian politicians and administrators says that they could never get succeeding Pakistan government to provide safety to Indians working in Pakistan.I hope GOI will take lessons from Past events.

Further it is more astonishing that the permission has been given to top ranked those two banks which have broken all past records of bad assets. SBI earned profit in past years by short provisioning on staff terminal benefits and for bad assets. It is pertinent to mention here that SBI Chairman Mr. Pratik Choudhury has been begging since long release of interest free CRR fund or for payment of interest on fund parked with RBI in compliance of CRR fixed by RBI to increase profitability of the bank. It is simply because he has understood the bitter truth of his bank, he better knows the voluminous bad assets hidden in the system and still considered as standard assets either by tampering with system or by restructuring or by ever greening of loan processes .

I would further like to add here that lacs of crores of rupees out of government fund central or state meant for various developmental projects have been parked mostly in branches of SBI. If state and central government demands at least 10 percent interest on deposits i.e. equal to rate their base rate fixed for lending ,made by the government in these banks, there is no doubt to me that their entire profit will vanish and most of the banks will book huge loss. There is no doubt that the crisis which will erupt after demands of interest by state and central government on the fund kept in SBI as interest free deposit will be more dangerous and disastrous than the crisis which had engulfed many banks in USA and UK in the year 2008.

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