KYC – Kill Your Customer?
Last year, a retired scientist received a call purportedly from SBI informing him that his account is blocked for non-compliance of KYC. They sent him a password to be shared with the caller. He...
Is SBI getting Privatised?
Arvind Panagariya and Poonam Gupta have come up with a demand that all public sector banks except the State Bank of India should be privatised.
Has the SBI become too big to govern?
'The rot within' is the title of an article of Ms. Purnima. S. Tripathi, wrote in the Frontline magazine, in its March 25, 2022 issue. The article further states – 'State Bank of India,...
Behind the ABG Shipyard fraud, a system that lets big firms gamble with savings of ordinary people
As the Enforcement Directorate on Wednesday registered a case of money laundering against Gujarat-based ABG Shipyard based on the complaint of the State Bank of India, the company has been described as being involved in “India’s biggest...
ABG Shipyard Scam- Need for Accountability and Overhaul of the System
ABG Shipyard was incorporated on 15th March 1985 as a ship building and repair business in Gujarat with an office in Mumbai. Its Chairman as well as Managing Director is Rishi Kamlesh Agarwal and...
GoI selling PSUs to ‘dubious’ investors amidst rising inequality, unemployment
In its reckless privatisation drive, the Government of India (GoI) is selling the Central Electronics Limited (CEL) to Nandal Finance & Leasing Private Limited, a Non-Banking Financial Corporation (NBFC) with a dubious record, owned by a...
The largest bank in the country cannot be anti-women!
State Bank of India has announced changes in the recruitment policy, which have come under valid criticism. How can SBI, which should be a model employer, become a guinea pig for wrong policies?
Govt continues its reckless selling of PSUs amidst rising inequality & unemployment
In its reckless privatisation drive, the union government is selling Central Electronics Limited (CEL) to Nandal Finance & Leasing Private Limited, an NBFC with a dubious record, owned by a furniture company, with less...
From People’s Bank to a Corporate Slave – Where is the SBI headed?
The recent deal between Adani Capital and the State Bank of India has raised eyebrows. State Bank of India was known as the people's bank, and it could rightly claim that it was 'the...
Mr Rajnish Kumar’s Book Raises More Questions Than Answers- Part 1
The book is worth reading to know how the public sector banks, the RBI and the Ministry of Finance deal with banking. How they create a crisis and try to manage it. I am...
SBI- A Guinea Pig for Neo-liberal Policies
The union government is bent upon privatising the Life Insurance Corporation of India. They stealthily announced an amendment to the LIC Act by making a statement in the Union Budget 2021 and made it...
Are the Employees of Public Sector Banks Overexploited?
Newton Kumar who is known on Twitter as @idesibanda has compiled data on the banks’ business and employee strength based on annual reports of the banks. The data on number of customers per employee...
Digital India helping crooks to cheat elderly people
Recently the Deputy Managing Director and the Digital Officer of State Bank of India stated that we have to ensure the safety and security of the Digital Platforms to prevent frauds. Hundreds of fraudulent...
Random Reflections- Demonetisation – The cruel joke on the People
After demonetisation on November 8, 2016, seeing the anger of the people, on Nov 13 PM Modi in an emotionally choked speech in Goa said “I have asked the country for just 50 days....
Random Reflections- Solutions for the Banking Sector
“Call the dog mad and shoot it” was the old slogan. The present slogan is, “poison the dog, make it look like mad and shoot it”. The governments have done exactly the same with...
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