The Fault In Our Processes

By the Editor: Siddharth Sehgal

People make mistakes, organizations make mistakes, governments make mistakes but they at least try to not repeat them. The fraud and subsequent absconding of another defaulter like Mallya has casted a shadow on the clean image of Modi government.

Several of our country’s big banking names are already sitting on a powder keg of bad loans waiting to explode on taxpayers but the salt on the wound is the corruption, which is the reason we would end up paying from our pockets for loans that should not have been given out in the first place. Bank officials and businesses collude to either bypass the due diligence altogether or make good use of the loop holes in our laws and business processes. Given the measure of fraud that came out in Nirav Modi’s case, I doubt its just the handful of employees in a branch in Mumbai who sold their conscious for easy money. It’s virtually impossible that someone at the top didn’t knew what was going on from 2011 to 2017. You can’t just give out undertakings, do a few swift transactions and end up with a fraud of over eleven thousand crores without anyone smelling a dead rat. I highly doubt PNB officials are telling the complete truth, if I were CBI, I’d actually start questioning both the employees at the branch where this act was done and the executives at PNB headquarters in New Delhi.

I am also surprised at the impunity with which this fraud was done, I would be surprised if the people involved, especially the government employees of the state run PNB, thought that with this much money involved they’d never get caught. Nirav Modi had protection from high above and a chance to run away, where would these retired or not retired public employees run away. I doubt these guys have that kind of money to guard themselves against the coming heat but as it goes, greed overcomes all common sense.

The saddest part of this whole saga is that like Mallya, Nirav Modi was not only tipped about impending arrest but was also allowed to leave the country with the stolen money. Without any inside and very strong help, I doubt people like these can step in an airport, much less an airplane.  Even if PMO had no inkling about these things, I don’t blame PM Modi for a photograph at a event where this absconder Modi was in background but someone, very powerful, protected this fraudster, which is a very grave concern. Honesty, transparency, accountability are the founding stones of a democracy, our ancestors didn’t fight for country’s freedom so that we can loot it someday. Someone must answer for this PNB fiasco, its better govt. start asking those questions.



  1. At first the English rulers were responsible for looting our mother land and our honest, sincere patriots fought against them and drove them out of the country but unfortunately today many very rich looters have mushroomed through out our country who have neither love nor honour for their motherland. Such people should be dealt with such severity that no one ever dares to cheat & rob the country.

  2. O K R Sivagnanam says:

    To err is human, but this excuse is not a licence to indulge in it repeatedly!
    Many a time, common sense leads the way without scope for Himalayan mistakes capable of being a disservice to the nation and its economy!
    Our tolerance is taken for granted, and the costly mistakes are recurrently committed against the general good of the people!
    Is redressal our hoping against hope?

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