Let banks defend bonafide employees

 

Let banks defend bonafide employees

Banks are reportedly planning to defend their existing and retired employees when they are hounded by investigating agencies. Legal and financial support to bonafide(प्रामाणिक/वास्तविक) bankers is welcome. Lending decisions involve(शामिल) judgement of risks and some calls can go wrong. Punishing an individual banker for a call taken in good faith(विश्वास ) is unfair(अनुचित ). Banks must make a distinction(अंतर/विशिष्टता) between individual bankers colluding(मिली भगत) and defrauding(धोखाधड़ी) the system and those facing charges for judgement calls on credit decisions that went wrong but were not malafide(दुर्भावनापूर्ण/बदनीयत से). This is not just a question of bankers taking care of themselves at the expense of the banks. Rather(बल्कि/अधिक मन से), bankers need this shield to continue to take lending(उधार) decisions and keep credit flowing to fuel economic growth.

Sensibly, the plan, endorsed(समर्थन किया/अनुलेखित) by the managing committee of the Indian Banks’ Association, is not just about bankers protecting their own interests, but also ensuring there is no paralysis(पक्षाघात) in the banking system at a time investment is gradually(धीरे – धीरे/क्रमशः) recovering. The government is under political pressure, after a spate of bank frauds and loans that have turned non-performing, to be seen to act tough. Reportedly, nearly half of the 50-odd officers of state-owned banks against whom the Central Bureau of Investigation and other enforcement(लागू करना/प्रवर्तन) agencies have filed cases are of the rank of the general manager and above. That these banks want to challenge the action taken by government agencies is a recognition(मान्यता/पहचान) of widely-shared perception(अनुभूति/समझना) that fraud investigations could easily degenerate(भ्रष्ट/गिरावट) into a witch hunt. Rightly, banks will not provide legal or financial support where prosecution(अभियोग) has been initiated(शुरू /आरंभ करना) by government agencies based “on a complaint filed by the employee or official of the bank”. Banks must retain(बनाए रखने के) public confidence.

Important Vocabulary

1.Degenerate(भ्रष्ट/गिरावट)
Synonyms: base, debased, debauched, decadent, decayed
Antonyms : clean, good, healthy, honest, honorable

2.Perception(अनुभूति/समझना)
Synonyms: approach, attention, attitude, awareness, concept
Antonyms: concrete, ignorance, stupidity, thing, unconsciousness

3.Colluding(मिली भगत)
Synonyms: connive., intrigue, plot
Antonyms:forget, neglect

4.Endorsed(समर्थन किया/अनुलेखित
Synonyms:approved, backed, ratified, recommended, sanctioned
Antonyms:disapproved, discouraged, cancelled, vetoed

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