Before I write this article, I want to confess that- I don’t want to hurt the image of any organization, I’m against some individuals & their personal benefits. If you really think this issue has to be escalated to the higher authorities, please share this article, give your valuable comments & suggestions. This article is not based on any hypothetical scenario, it is true and it is happening every day.
Now a days State Bank of
India (S**) is the right hand of Indian Government to drive most of the social
welfare scheme. Because of SBI’s well penetrated banking network, it reaches to
all most all parts of the country- be it the rural or be it the urban India.
But the way SBI is driving the social welfare schemes is very pathetic.
I’m going to elaborate
one scenario how SBI authorities are cheating the poor people with the MUDRA
loan. There are enormous examples with this context. How SBI authorities are
forcing people to take SBI Life schemes along with the loans (mainly the money
back scheme of SBI Life) and booking their foreign trips.
Brief Background 1- SBI Life is a joint venture between SBI and
BNP Paribas Assurance and one of the major player in the insurance sector. And
we all know how the insurance industry works. More the insurance sold through
an agent, more the commission he/she gets.
Brief Background 2-The MUDRA (Micro Units Development &
Refinance Agency Ltd.) loan is a new scheme under PMMY (Prdhan Mantri MUDRA
Yojna), which enables small borrower to borrow from banks, NBFs for loans for
non-farm income generating activities without any collaterals.
Whenever someone goes to
his/her nearest SBI branch to avail the MUDRA loan facility, the bank
authorities force them to take a Money back plan of SBI Life. Sometimes the
authorities threatens the individuals like – “No SBI Life scheme, no MUDRA
loan.” You must be thinking how this modern day robbery works. More the insurance
sold by the bankers, more the commission generated from that. Starting from a
banker in the branch to the higher authorities in the Regional Business Offices
(RBOs) and again other higher authorities from Local Head Offices get the share
of the commission. And SBI Life books the holiday tickets- to Singapore,
Malaysia and other places.
It is not about only the
MUDRA loan. They are not only cheating the simple illiterate public, they are
also pushing SBI Life policies with the personal loan schemes. So you can
imagine the scenario now, how the bankers from SBI are cheating us. The higher
authorities are also aware of this kind of filthy practices but still they are
quiet because they are getting their share.
This article ends here but I hope after reading this you won’t be
quiet. You will take necessary action to stop this exploitation.
