gfiles Magazine- October Issue 2010

http://www.gfilesindia.com/ Who’s laughing all the way to the bank? FOR a banker, becoming Executive Director is a cherished dream and, consequently, the competition is cut-throat. The Finance Ministry recently appointed several EDs in various banks. Now, those who did not make it to these coveted posts have a story to tell. They say that those who did make it did so after having coughed up huge sums. As to the extent of these sums, it’s a fair guess. The new EDs rubbish these allegations, claiming that they were selected on the basis of merit. North Block babus say that, though the selection took almost six months, everything is above board. However, it is well known that there is no smoke without fire. The affair does have a silver lining, though. For the first time in six decades of independence, a Dalit has been picked for the post of CMD. |||||||

IDBI matches up to its slogan “AKHIR ma ke pyar ki koi kimat thodi na hoti hai (After all, a mother’s love is priceless)” is the new slogan of IDBI Bank. And newly appointed IDBI Chairman RM Malla understands well the sentiments of the bank’s customers. He has announced a waiver of the fees for all customer services, something that’s a little worrisome for other PSU banks. Malla’s initiatives have been given a thumbs-up by the stock markets. India has 31 crore savings accounts as of date. This means that 83 per cent of the population does not have bank accounts. Malla’s initiative is a likely road map for achieving financial inclusion. |||||||

Windfall for SP among chinars FROM Kashmir comes this tale of a policeman who recognizes when opportunity knocks. A filmmaker and his team, with all the requisite paraphernalia, landed up somewhere between Srinagar and Udhampur. Having passed through a series of police pickets in the terrorist-plagued area, the team was aghast when told there was no accommodation available. Then the residents tipped off the filmmaker: contact the SP, he may bail you out. Sure enough, the SP proffered a solution. The entire crew could stay in his house. Delighted, the filmmaker and the team stayed a week in the SP’s house while shooting. Then they wound up, packed and were about to depart when the SP, amid valedictions, asked for a week’s rent. The filmmaker ended up paying a large sum, equivalent to what a high-end hotel would have charged. |||||||

‘Life in Delhi is miserable’ IAS officers are usually very guarded in speech and demeanour. However, once in a while, the trying circumstances in which they find themselves compel them to let the mask slip. Recently, the following exchange took place between two senior officers in Delhi. One asked, “So how are you doing?” The other burst out, “Life is third rate.” The first was shocked: “How do you mean?” The disgruntled officer, who is a seasoned bureaucrat and has also served as PS to a Minister of a minority community, replied, “In my cadre state, I was happy. Life was organized and peaceful. In Delhi, life is miserable. I would be happy if this is published somewhere. Then I would be transferred back to my state.”