National Economy is being damaged by large number of organizations involve in illegal banking activity. Their impact in the economy is alarming, in my opinion there are not less than 10000 big and small organizations mobilizing huge deposit. These organizations are accepting deposit from small investors as well as from persons earning money through unethical ways. Big fund of politicians and government employees are parked there. These organizations are generally incorporated in the form of companies, cooperative societies and Trust. These organizations have their account in Banks (Nationalized and Private), Bank account is used to transport cash from one place to another. Bankers for earning exchange, allow transactions violating directions of RBI. For increasing deposits also, Bankers allow these organizations to transact heavy amounts.
Posted on: Tue, 20 Aug 2013 15:52:28 +0000
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