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
