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Solutions for ever growing scams in India





Lakh crores scam, thousand crore NPA, Hundred Crores Ghotala, have become a usual thing for we Indians. And why is it so, because we are least bothered about what’s happening next door. Country which had been ruled for so many years is not ready to step up and walk free. We say we are independent, but are we actually independent and free from all bounds. 125 crore people strive daily to earn their bread and butter without even thinking that one day someone else will take his butter and leave a dry breadcrumb to his destiny. We need to sit down and think beyond politics to build a system which shall take care of all of us. Let’s move beyond Narendera Modi and Rahul Gandhi. Let’s accept this fact that these people have no job other than criticizing one another.


As my experience suggests that most of the scams are done by the so called creamy layer because as such a common man in our country is occupied in working hard and somehow pass his day. Be it 2G scam, Commonwealth game scam, Coal Scam, Railgate scam, Satyam scam, Nirav Modi Scam, Mallaya Scam, all of them have one thing in common. These all had people of highest level involved. Can anyone tell me, is it a manager in bank who can lead to Rs. 11,200 crores scam? Were the top management not part of it? And if it was actually that manager, then what was the management doing and where were their controls. Now you would say that Concurrent auditors did not do their job. When the chairman is unware, what a concurrent auditor do who is supposed to merely give his opinion. There is a need to introspect.

There should be a Money Regulation Authority (MRA), who should monitor a transaction beyond Rs. 500 crore, whether it is government project or it is bank funding. Person approving such transaction under MRA should also be made a party to the transaction and in case of any failure to recover the amount occurs, the approver should be liable to pay 10% of the total sanction or the pending amount whichever is less. We Indians don’t mind if the staff deployed at MRA is highly paid and given best of the facilities. Making them party to these transactions will make them cautious before any such approval is granted. MRA should be the sole authority for transfer of funds beyond Rs. 50 crores to an international bank account. Even the individuals should not be allowed to freely park their fund overseas. This shall ensure proper control on people doing NPA and fleeing outside India. At least they would not be able to enjoy the butter of a common Indian. Furthermore all the sanctions and proposals of MRA should be directly tabled in parliament before the house. This will ensure that the scams are pointed out even before they become a scam. This will happen only when our leaders wish to do so, honestly speaking, I am little sceptical.


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