A very useful report with a lot of information that exposes the fallacy that ours is a society that is ruled by law. I can see the whole of judicial fraternity is up in arms against the encounter killings in the Hydrabad rape and murder case. Until and unless the judiciary owns up its failures and take corrective measures there cannot be any hope for law abiding citizens in this country. We have to, unfortunately , absolve the elected organ of our Constitution because we have seen how 5 odd judges sitting in an air conditioned room trashed the National Judicial Appointment Commission Act, duly enacted by the competent authority following the due process as prescribed for such enactment. The fact remains that this law itself was necessitated because the appointment and transfer of judges had certainly been with the Executive till the 1990s when the judiciary usurped this power when weak governments were in power at the Center. There is no system like the collegium mentioned in our Constitution or practiced anywhere in the world.

Shocking lapses on part of RBI and it's agencies -

Why can't the banks offer a higher insurance on their own ? Perhaps at a small and reasonable price. Something like the secured deposits offered by companies.
Why do they have to wait for the DICGC ?

Prima facie as the insurance amount collected is at least 10 times payout, the DIGCG can easily provide a cover of 10 times the current insured amount without increasing the premia - i.e. the insured limit can be immediately revised to at least Rs 10 lacs without raising premia.

Furthermore, since payouts seem to be mostly being made against cooperative bank failures, DIGCG should raise the premia for these set of banks and use the additional funds to inspect their books.

Govt may use surplus of more then Rs.80000 cr to adjust financial budget as this in increasing since last more then 50yrs.

1. Those in power have not thought about DICGC limit enhancement even after an incident such as Madhavpura mercantile coop bank.
2. Requesting you to upload the entire RTI reply.

In a free market economy regulators are the key. Need to make all regulators submit a report in public every quarter.

I've always been of the opinion that Govt servants work only the bare minimum and shirk away the rest. More importantly, they refrain from taking decisions too. It also helps that they are unaccountable and cannot be punished for their misdeeds

90% Indian s doesn't know only one lakhs insured by all banks and also most of the people think bank are honest,I will ask both both parties please reply ,how much money recovered till today by selling assets of fraud persons who taken huge fraud loans,how much money returned to the bankrupted bank account holders , don't do drama,my friend lost several lakhs from Alpic finance a NBFC in twenty five years back, but till today he have not received single paise , this Alpic finance company is a subsidiary of Cipla group, this NBFC done huge fraud,but till today no action taken, these companies go to court and take stay order for the sale of theirs assets, Court will drag the case to twenty to thirty years at that time all investers will die, these fraudessters enjoy our loot money with political leaders, these are all drama nothing will happen only poor will die , why not Auditors arrested who have been submitting manuplated Audit reports by fabricating balance sheets. Even concerned officials from RBI are also equally liable for this situation. We need to initiate proper legal steps to compel RBI to immediately resume normal operations of Bank.In past history no business man who had taken huge fraud loans are not punished by court,ask these RBI give the list of who had punishment for such crime in India, nothing only poor people are finished from these fruduster, former finance minister chidambaram who had made banks to give loans by phone calls is getting bail after bail from all courts ,his son has thousand crores money in foreign country, these money has gave by Vijay malya like business men for getting fraud loans,no hope for our India , UPA gave 70%fraud loans , NDA has gave 30%fraud loans,one is 840and another is420, this is only difference, both parties taking India to bankruptcy,no hope for common people
In India nobody knows how Indian companies are doing fraud from the beginning to last ,for example a big business men will start the company in India as below .His companies actual value is Rs2000crores but with the help of the auditors,Banks,and chartered accountants he made his company s values to RS 6000 crores by book adjustment with bribe and he call IPO that is in share market and collect Rs10000 crores in share market, first he pumped 60%of money to foreign country in the name of business and will deposit most of the money in his name next he will file bankruptcy due to losses and will write off all the loans this is the business doing in India ED is doing drama ICICI Bank chandakochar is well known to all she done huge fraud in ICICI Bank, this drama of enquire is doing from past one year, but still she is not arrested, reasons In this icici bank scam all SEBI auditors ED RBI central government rating agencies big leaders of all parties involved.central government making all efforts to avoid arrest these fellows,if arrested all all foreign country become knows most of the Indian companies running on bogus and take away all foreign investment,then India become bankruptcy.This is well known by central government hence avoiding all efforts to arrest directors of icici bank chandakochar DHFL jetairways Videocon kingfisher airline PNB bank head il@fs etc .even Vijaymalya kingfisher airline companies don't have single plane in his companies name but all banks gave Rs10000 crores money, same type loans gave to jet airways,DLF, Devan housing finance company,il@,fs,etc wait in few months most of the common people investment in icici bank NBFC PSU banks equity NCD mutul funds become Zero,All parties RBI officers, SEBI, etc are corrupt they are taking India towards bankruptcy.

Since when did the bureaucrats have the desire to re-impose more work upon themselves? They won't. It's their culture to slack around in their cubicle and swipe left on Tinder the whole day.

Perhaps, the Govt ought to pass an amendment by rewording the DICGC Act to make inspections mandatory (more manpower needed, more jobs, ahoy!). It's as though the word 'empowered' has been reduced to a four letter word. Without strong leadership, nothing will happen.