Banking for Beginners

What Mr Arun Jaitley probably meant in his blog post , was that although CBI was competent to investigate and conclude charges against an offender, in this case Ms Chanda Kochhar abd her associates, but they may be venturing into sensationalism if they name a whole gamut of bankers /committee members without any conslusive proof against them. This may only tarnish their names, without serving any purpose. I have been on the board of a Public sector Bank as an independent Director, and can say with conviction that independent Directors/ committee members have limited access to information and rely heavily on the recommendations being put up by concerned credit departments. Moreover, at the board or committee level, disclosures pertain to financial numbers only, which are generally satisfactory. Rarely a Bank's board takes a positive call even though the numbers are negative. This is not to say that vigilant and knowledgable Board members cannot analyse or see through a fake proposa