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GOKULDAS KAMATH (EX BANKER)     06 November 2012

Corruption in a nationalised bank and university

I am provided with a list of high value term deposits aggregating Rs.250.00 crores invested in various banks by a reputed university  and also a copy of proceedings of  funds management committee of this university as per which university is required to invest its funds in a manner by which it can earn maximum interest .These documents are provided to me under  RTI Act.

As per the list of deposits,this university has invested huge  amount of funds in a particular bank for a period of 24 months at interest rate ranging from 6.75% to 7.75% per annum while interest rate of other banks was 8.00% to 10.40% per annum  during the same period which was invested for only 12 months.This particular bank where I was working was bribing the finance officer of this university to get high value term deposits at the rate of Rs.25000 per crore.The Bank officials had done various manipulations in Bank's books of account to arrange funds to pay the bribe amount.There are unusual credits in the account of a branch manager who was acting as an agent for this finance officer.All branch managers used to remit bribe amount through this account which was utilised to pay the bribe. I have got a copy of bank's CVO report as per which Bank is going to take action against this branch manager.Further,out of 9 branches of this bank in this city,one branch did not get any benefit of deposit as the bnranch manager of this branch was not willing to do any manipulations to bring any deposit from this university

I want to complain this matter to ACB and Governor and CVC and also to Government Lok Pal

Kindly inform me whether the information provided to me under RTI Act by this university is sufficient to lodge the complaint.Also kindly give suggestions to expose these illegal and unethical business practices of this nationalised bank


 1 Replies

narendra.s.p (Chief Manager(Law))     06 November 2012

Please lodge complaint against the Bank with the Chief Vigilance Officer of that Bank. for details please visit the website of CVC : CVC.nic.in

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