Kejriwal is doing a yeoman service by exposing corruption, scams, scandals one after the other. His latest exposure of revealing the names of influential industrialists and politicians who allegedly stashed money in Swiss banks deserves serious attention and investigation. At least the government should get a list of Indians who have huge deposits, say more than R100 crore, in Swiss banks. It is ironic that a country where the level of corruption is very low is helping corrupt people of other countries to deposit in their banks.
It requires enormous courage and conviction to fight against mighty and influential politicians, businessmen and bureaucrats. Earlier an impression was created by IAC team that their fight is against the ruling combine only. They made a welcome departure by exposing corruption irrespective of political affiliations. People should give wholehearted support and help to the work and activities of Kejriwal & team and also help them in more and more exposures. They should also start a campaign to isolate and socially boycott the corrupt and crooked. Our attitude towards the corrupt over the years has also played a pivotal role in spreading the virus. Our moral value had gone down to such an extent that we eulogise the rich (irrespective of the means of earning money) and brand the honest people as fools and idiots who are unable to amass ill gotten wealth. Mounting published pressure coupled with social boycott will force at least some people to introspect their dealings. This will gradually reduce the temptation for amassing wealth by unscrupulous means. This is a golden opportunity to show to the whole world that in the largest democracy of the world ultimate power lies with the people and not in the hands of handful politicians, businessmen and bureaucrats. This will herald the beginning of good people joining politics which was hitherto considered by them as a synonym of all dirty tricks and a profession unfit for men of principles. Let us show to the whole world that largest democracy is also the democracy of the world.
This is regarding anti-corruption activist turned politician Arvind Kejriwals regular allegations against corruption or surreptitious deals involving politicians and others. Some may be true or some false. In his latest, he says "Ambanis & others have funds abroad" (FE, November 10). He has targeted multinational bank HSBC, accusing it of money laundering. But unless we reform our laws to investigate and find the culprits, if any, and punish them within a time frame, there is no use in these allegations without proof. It makes news, sometimes helps some politicians, sometimes mars the image of innocents. Allegations come and go. But at this rate, Kejriwal will create an Image of India as the "Corruption Country" that is detrimental to the interest of the country. Steps need to be taken to eradicate corruption without delay with adequate laws, right methods of investigation and fast action involving the cooperation of all sectors.
Give it all to RBI
Huge amounts of funds are lying unclaimed with or without the knowledge of customers/depositors in inoperative accounts of banks in India. These banks also include a large number of private, multinational and co-operative banks. It is grossly against national and public interest to leave such enormous amounts of public money in private, multinational and co-operative banks.
The Reserve Bank of India (RBI) should issue a directive that all banks may inform their customers/depositors by registered post about their funds lying for more than, say, three years in such inoperative accounts. After the expiry of a certain time period, all such unclaimed funds should be transferred to a special fund at RBI from where it may be claimed afterwards by claimants either directly from RBI or through concerned banks. Similar systems should be implemented for deposits and accounts in post-offices. It should not be difficult because already such a system exists for unclaimed dividends in companies.
Subhash Chandra Agrawal