VITALINFO: Reveal bank inspection reports: CIC to RBI

VITALINFO: Reveal bank inspection reports: CIC to RBI

The ruling of the CIC would ensure that the findings are followed up by the RBI without any let up and banks take action on the RBI's instructions and also take action against those members of staff who are responsible in the banks for the irregularities. Action against erring officials in the banks, on the basis of the findings in the inspection reports, has some times not been as strict as it ought to have been. The ruling of the CIC would also ensure that the findings in the Inspection reports are thorough and could be defended to the hilt by the RBI. Indian bank would not have gone through the trauma it went through some years ago and would not have cost the Indian taxpayer to the extent the recapitalisation of the bank did if only the Indian Bank had taken the Inspection reports seriously and had acted on the findings and the RBI had ensured this.