Madhu Koda case How Madhu Koda men succeed in their ill motive and bank could cooperate

a person like Madhu Koda Description This refers to news item that Madhu Koda men deposited Rs.640 crores in cash in a PSU bank violating the norms and guidelines set by RBI with respect to acceptance of deposit in cash and opening of new accounts. Normally a deposit of Rs.640 crores in a bank must come to the notice of CMD of that bank and also top bosses of RBI and Ministry of Finance. But none of the responsible officer took pain to look into such a big transaction taking place in a banks branch. None thought it fit to look into reason behind abnormal spurt in deposit of a bank branch. All reports received in a controlling office are either filed to ignore willfully to gain false image. After all it is financial power which empowers terrorists to conduct terror attack on India and it is banking channel which helps them to transact their inward or outward remittance to feed terror camps. Money in hundreds of crores is not remitted in jute bags but through banks only. As long as Madhu Koda was a Minister in the government headed by Arjun Munda CM of Jharkhand and as long as Madhu Koda himself was CM of Jharkhand from 2006 to 2008 none of IAS or IPS officer or even ministers in central government had the courage to protest and stop the corrupt practices of Mr. Koda. Harshad Mehta in eighties could cheat CMDs of various banks, RBI and Ministry of Finance not because he was a very talented, educated or a financial expert but because he could understand the weakness of the banking in those days. It appears that no way the position is changed in today also.RBI has issued various circulars and guidelines. But it appears that all circulars or guidelines from RBI are nothing but sermons to be preached and kept in files. In-spite of the best practices initiated by RBI and said that banks are implementing such practices; still incidents like Madhu Koda are taking place. Can really RBI directions help the banks to come out of this kind of a problem and is there any scope for a clean and fair banking in India.? Oh! Banking is taken for a ride. Let God save Indian Banking.