Locke’s “Affect Theory (1976)” is probably the best known job delight model. The principle premise of this idea is that pleasure is determined via a mismatch amongst “what one wants in a process” and “what one has currently”. Further, the idea states that “how a great deal one values a given side of labour (e.g. the degree of autonomy in a feature) moderates how satisfied/disillusioned one will become even as expectancies are/aren’t met”. While a person values a particular side of a procedure, his pleasure is extra considerably impacted every in reality (at the same time as expectations are met) and negatively (while expectancies aren’t met), in comparison to new how doesn’t cost that aspect. to demonstrate, if worker appreciates freedom in the work area and worker is detached approximately freedom, then worker A would be extra glad in a function that offers more freedom and much less satisfied in a function with little or no autonomy in comparison to worker B. This concept additionally states that “an excessive amount of a specific aspect will produce more potent emotions of dissatisfaction the more a worker values that facet”.
M.COM, NET (COMMERCE)
ASSISTANT PROFESSOR IN COMMERCE
INTRODUCTION : – Banks are considered as necessary equipment for the Indian economy. This particular sector has been tremendously growing in the recent years after the nationalisation of banks in 1969 and the loberalisation of economy in 1991. Due to the nature of their daily activities of dealing with money, even after having such a supervised and well regulated system it is very tempting for those who are either associated the system or outside to find faults in the system and to make personal gains by fraud.These frauds, unlike ordinary crimes, the amount misappropriated in these crimes runs into lakhs and crores of rupees. Bank fraud is a federal crime in many countries, defined as planning to obtain property or money from any federally insured financial institution . It is something considered a white collar crime.
To understand the concept of Bank Fraud, we need to understand the concept of fraud and the various types of frauds and the ways to detect the same and the prevention of the same.
WHAT IS FRAUD : – Generally, A dishonest act or behaviour through which one person gains or tries to gain advantage over another which results in the loss victim, directly or indirectly is called fraud.
Under the IPC, fraud has not been defined directly under any particular section, but it provides for punishments for various acts which leads to commission of fraud. However the section is dealing with cheating, forgery, counterfeiting,misappropriation and breach of trust cover the same adequatly.
as outcome of fraud exceeds the losses due any other crime put together. With the rising bank business, cheating in the bank additionally expanding and the fraudsters are turning out to be increasingly complex and shrewd.
The four most important elements for constituting fraud are : – the active involvement of the staff, failure to follow the instructions and guidelinesof the bank by the staff, collusion between businessman,executives and politicians to bend the rules and regulations and any external factors.
LEGAL REGIME TO CONTROL BANK FRAUDS : –
- The Indian penal code,1860
- Criminal procedure code,1973
- The Negotiable Instruments Act,1881
- The Reserve Bank of India Act,1934
- SARFAESI Act,2002
- The Banking Regulation Act,1949
IMPACT OF FRAUD IN INDIA : – Many recent fraud incidents reported are related to fix deposites,loan disbursments, and credit and debit card frauds and ATM based frauds.All these frauds show that not only they undermine the profits, reliability of services and operating efficiencies but also have an impact on the society and the oragnisation itself.
This rise in the NPA is a serious threat to the Indian Banking industry as the sturdiness of a countrys banking and financial sectors deetermines the qualities of the product and services. it is also a direct indication of the living standards and well being of people.
Frauds has also hampered the growth of this establishment/industry. it is a huge killer for the business sector and underlying factor to all human endeavours. it is also increase the corruption level of the country.
CLASSIFICATION OF FRAUD AND PERVENTION:
To maintain uniformity in fraud reporting, frauds have been classified on the basis of types and provisions of the Indian Penal Code, and the and the reporting guildelines for the same has been prescribed by RBI The Reserve Bank of India classifies Bank frauds in the following catgories: –
- Misappropriation and criminal breach of trust.
- Negligence and cash shortages.
- cheating and forgery.
- Any other types of fraud not coming under the specific heads as above.
- Irregularities in foreign exchange transations.
MECHANICS OF BANK FRAUDS
DEPOSIT ACCOUNT FRAUDS:
The following types of frauds are generally commited;
- value inflation of cheques deposited
- changing the nature of the cheques(crossed to bearer)
- operating a dormant account fraudulently
- carefully and systematic examination procedures of cheques and other trasactions.
- seperation of book keeping and cash handling operations.
PURCHADED BILL FRAUDS:
These are generally expensive and can take the following forms: –
- Discount on stolen or fake Railways Recipts and motor recipts along with other necessary bills.
- fake/forged bills for valueless goods are discounted.
- Strict examination before discounting the bills.
- Establishing a better connection between the purchaser and the seller in the caes of dispatch of proceeds.
- Examining the recipts properly and strictly by conferming from the connected authorities.
Cash advances,against pledged goods as securities are fertile field for frauds.
- Inflation of stock statements.
- Some of the stocked goods in the large quantity may have been less value.
- hypothicating some goods in the favour of different banks.
- Only marketable goods to be acceptd as security
- Strict examination of the banks representatives and borrowers credential
- proper evaluation of stocks
- Verification of statements of stocks.
The following types of fraud are generally commited: –
- Two diferent person taking loans on the same item or product
- Borrowing is denied when the particular person is alleged of non payment
- Loan taken from one purpose but used for a different purpose i.e loan taken for agriculture but used for personal purposes.
- Proper verification of documents and the purpose for taking the loan
- Incase of a substantial amount of loan taken, it should be checked by the competent authority
COMPUTER RELATED FRAUDS:
To provide efficient and fast service, most of the branches of the bank except the ones in the rural and remote areas have been computerized.
Not many frauds related to computers have yet been reported so far as computerization in the Indian banks is of recent origin. There is a need to anaysisthe nature of such crimes so that appropriate preventive measures may be devised.
This constitutes the biggest volume of bank frauds. This crime is done in the following forms:
- Cheques are stolen, filled and signed spuriosly and encashed.
- The signed cheques are stloen and are encashed with alterations, if needed
- Cheques issued by organistions for employees are duplicated.
- The instruments must contain a proper date
- Checking cheque kitting
- The amount should be checked that it should be written in both numerical and words.
DISHONOUR OF CHEQUES:
Dishonour of cheque or cheque bounces are very serious problems and it is becoming even bigger. To cope with this issue which was affecting the smooth business tracsactions, the Government of India has introduced the Negotiable Instruments Act,1881 which provides for provisions to deal with cases of cheque bounce under section 138 to 142.
The Superme court of India in a landmark judgement has also provided with new guidelines to deal with cheque bounce cases.
These frauds are a creation of the experienced criminals, frantic customers or someone associated with the banking system or a bunco bankster or their collusion. Most of time with a strict vigilance and examination of various documents, their work can easily be detected.
These frauds are now becoming more and more frequent and can be considered as one of the main reasons for damaging the economy of the country and with such high profile frauds happening all over the country, it has become necessary to put a check to these activites and if possible to create a more stringent legislation to deal with these issues.
“Sticking to the rules and eternal vigilance is the basic prevention measure.”
Ph.D, Research scholar, Department of commerce, MDU, Rohtak
GST (Goods and Services Tax) is defined as a uniform indirect tax levied on goods and services across a country. More than 160 countries have implemented GST. The GST rolled out from July 1, 2017. GST, as an umbrella tax has replaced central taxes such as Central Excise Duty, Service Tax, Additional Duties of Excise & Customs, Special Additional Duty of Customs, and cesses and surcharges on supply of goods and services. There was a huge hue and cry against its implementation. In present paper it has been shown that which sectors are positively or negatively affected by GST.
Goods and service tax, Indian economy, GST
The Rajyasabha unanimously passed the constitution (22nd amendment) bill 2014, on 3rd August 2016 with 203 votes in this bill’s favour. All parties, except the AIADMK, backed the bill. GST is an indirect tax on the consumption and production of sales of goods and services throughout India, to replace taxes levied by central Govt. and state Govt. GST is levied and collected at each stage of sale or purchase of goods and services. It has a system of Input Tax Credit which will allow sellers to claim the prepaid tax so that the final liability on the end consumer is reduced. It is the biggest tax reform in 70 years after independence of India, the Goods and Services Tax (GST) was finally launched on the midnight of 30 June 2017, though the process of forming the legislation took 17 years (since 2000 when it was first proposed). It was launched at midnight 30 June – 1 July 2017 session in both the houses of parliament convoked at the Hall of the Parliament, but which was immediately boycotted by the opposition by staging a walk out to show their disapproval of the same.
Before 1st July 2017, some taxes were levied by the state Govt. and some were levied by central Govt. Govt. levied only one unified tax rate instead of all different types of taxes, GST is applied on goods and services at the place where actual consumption happens. It is based on the Destination Principle. GST levied and collected at each stage of sale or purchase of goods and services. Goods and services are not distinguished and are taxed at single rate in supply chain till the goods and services reach consumer. It is the consumer of goods and services who bears the tax. The manufacture/wholesaler/retailer pays the applicable GST rate but can claim back through tax credit mechanism.
The current taxes like excise duties, service tax, custom duty etc. have been merged under GST. The taxes like sales tax, entertainment tax, VAT, and other state taxes will be included in GST.
How GST is levied
GST is levied on the place of consumption of goods and services. It can be levied on following states:
- Intra-state supply and consumption of goods and services.
- Inter-state movement of goods.
- Import of goods and services.
Impact of GST on Prices of Goods and Services
Tax experts claimed that the previous practice of tax on tax – for example, VAT was being charged on not just cost of production but also on the excise duty that was added at the factory gate leading to production cost building up but now all had been gone when GST is rolled out. The prices of consumer durables, electronic products and ready-made garments will be available at low price after rolled out GST. In other aspects, for goods which were taxed at low rate, the impact of GST brings price increment. Services bearing essential ones like ambulance, cultural activities, pilgrimages etc. were exempted from levy are same. India has seen the strongest tax reform that aims to do away with various – tax system on goods and services and bring them under one rate. We can draw the following impact of GST on prices:
The government rolled out the much talked about Goods and Services Tax (GST) on the midnight of June 30. The GST Council has fixed the tax rates, keeping a view on all goods and services; they are classified under tax slabs 0 % (exempted ones), 5%, 12%, 18% & 28%.
Here is a list of some items which are completely exempt from the GST regime:
- The unprocessed cereals, rice & wheat etc.
- The unprocessed milk, vegetables (fresh), fish, meat, etc.
- Unbranded Atta, Besan or Maida.
- Kid’s colouring book/drawing books.
- Sindoor/Bindis, bangles, etc
- Below is a list of the sectors which are negatively or positively affected by GST.
Sector wise positively impact of GST
|Sectors||Tax Implications under GST|
|Auto Commercial Vehicle (CV)/Two wheelers (2W)||To marginally reduce by 1% compared to the existing tax structure. Positive|
|Auto – Small cars||Small cars which less than 4 meter length and more than 1500 cc engine tax rates to reduce by 2-2.5% compared to the existing tax structure. Positive|
|Auto – Midsized cars and SUV||Midsized cars <1500 cc &<4 meters in length and SUV rates would come down by 8% and12% respectively. Positive|
|Consumer goods – essential items||Effective tax rate in essential goods (soaps, toothpaste, edible oil and hair oils) under various tax slabs – Positive|
|Consumer goods – Footwear||Footwear tax rates (<Rs 500) to reduce to 5% from 9.5% and <Rs500 to reduce to 18% from 24-30%– Positive|
|Consumer goods – Cigarettes||Effective tax under GST would be 28% along with additional Cess and other taxes. GST rate in cigarettes according to the current rate will gradually increase over the next 5-6 years – Positive|
|Building Materials||Organised players to benefit from higher tax rate in the long term, as they gain market share on reduced pricing spread between organised and unorganised players. However, higher tax rate may lead to tax evasion through loopholes, which is a concern from organised players.|
|Logistics||In Consolidation of warehouses across the country with free movement of goods will lead to higher volumes for logistic companies. Execution of the same, however, might take some time as unorganised players will have to adapt to new systems under GST.|
Sectors negatively effected by GST
|Sectors||Tax Implications under GST|
|Hotel more than Rs 5000 room rental||Tax rate on fine dining restaurants increased to 28% from 15%. This will result in room rentals hikes, with consequent impact on hotel occupancies.- Negative|
|Restaurants & fine dinning||Tax increased to 18% from 15%. This tax revision will affect the fine dining restaurant industry which has already seen significant pressure on its sales due to macro environment slowdown. – Negative|
|Branded Apparels||Garments >Rs 1000 will be taxed at 12% instead of 7%. This will adversely impact business as price hikes would lead to late recovery in sales.|
At the end we can say clearly with no doubt that it is the biggest ever change in tax structure of India. There is a fall in prices of Auto Commercial Vehicle, Two wheelers, Small cars, Midsized cars and SUV, essential items, Footwear, Building Materials etc. and education, healthcare are going to be exempted from GST but on the other hand, price of some other goods and services increased after GST like Hotel room rental, Restaurants & fine dining and Branded Apparels. There was threat of inflation before GST rolled out. It can be concluded that GST has been going to be an historical record for its full fledge implementation and hopefully this biggest historical reform will result in ease of doing business in India.
Dr. Rouf Ahmad Rather
Department of Commerce and Management
Gandhi Memorial College Srinagar , J & K
The word “eco-friendly” has become a slogan of today’s marketing practices of different companies throughout the world. Green marketing is gaining noteworthy attention from both marketers and consumers. Given that a cautiously crafted green marketing strategy can earn trustworthiness with customers and provide a stage for revenue growth, it’s an area worthy of additional reflection. This paper is an effort to present a picture of green marketing prospects in India.
Key words: Green marketing, Environmentally friendly product, Awareness, India
Green marketing generally aims to promote eco-friendly products and a safe environment where people could stay. Right now green marketing is widely becoming a phenomenon throughout the world as concerns on our environment have begun to escalate in the past few decades. Every year, the population of people who are turning towards green brands or environmental friendly products are increasing, so, magnifying the phenomenon exponentially. Thus, businesses in almost every industry nowadays are flaunting the “green” features of their products and services in every chance they get. The success, however, of any green marketing strategy is heavily reliant on the consumers it would like to target.
According to the American Marketing Association, green marketing is the marketing of products that are presumed to be environmentally safe. Thus green marketing incorporates a wide range of activities, including product modification, changes to the production process, packaging modifications, as well as changing advertising. Still defining green marketing is not a simple task where several meanings intersect and contradict each other; an example of this will be the existence of varying social, environmental and retail definitions attached to this term. Other similar terms used are Environmental Marketing and Ecological Marketing.
According to Polonsky (1995)’s definition, “Green or Environmental Marketing consists of all activities designed to generate and facilitate any exchanges intended to satisfy human needs or wants, such that the satisfaction of these needs and wants occur, with minimal detrimental impact on the natural environment”. Thus “Green Marketing” refers to holistic marketing concept wherein the production, marketing consumption an disposal of products and services happen in a manner that is less detrimental to the environment with growing awareness about the implications of global warming, non-biodegradable solid waste, harmful impact of pollutants etc., both marketers and consumers are becoming increasingly sensitive to the need for switch in to green products and services. While the shift to “green” may appear to be expensive in the short term, it will definitely prove to be indispensable and advantageous, cost-wise too, in the long run.
Green Marketing Practices in India
Nike is the first among the shoe companies to market itself as green. It is marketing its Air Jordan shoes as environment-friendly, as it has significantly reduced the usage of harmful glue adhesives. Kansai Nerolac Paints has been at the forefront of paint manufacturing for more than 88 years pioneering a wide spectrum of quality paints. Kansai Nerolac has worked on removing hazardous heavy metals from their paints – among this lead being the most prominent metal. Kansai Nerolac does not add any lead or other such heavy metals in its manufacturing process.
Dell has been one of the vendors who focus on producing green IT products. They have a strategy called “Go green with Dell” to sell these products in the market. It also comes in an eco-friendly packaging with a system recycling kit bundled along. Talking about the green commitments of the company, Sameer Garde, Country GM, Dell India, says, “Dell is also actively pursuing green innovations that will be of value in 2009 from data-center efficiency to the use of eco-friendly materials for everything from chassis design to product packaging.
Eco Hotels (Ecotels) is a certification system promoted by Hospitality Valuation Services (HVS) International. This system is based on 5 main criteria: environmental commitment, solid waste management, energy efficiency, water conservation, and employee education/community involvement. In India we have Eco-hotels like Orchid, Rodas, Raintree etc. believing and practicing green marketing. According to Harish Tiwari of Infinity Infomatic Pvt Ltd, a well known distributor, who says, “We don’t find any difficulty in selling green products because the knowledge for these products has increased in us as well in customer. They are ready to pay higher for these products once they convinced.” In May 2007, IBM launched Project Big Green to help clients around the world improve the efficiency of IT and better optimize their data center resources. IBM has software and services technologies to help businesses reduce data center energy consumption and cut energy costs by more than 40 percent.
The Introduction of CNG in New Delhi, the Capital of India, as it was being polluted at a very fast pace until Supreme Court of India forced a change to alternative fuels. In 2002, a directive was issued to completely adopt CNG in all public transport systems to curb pollution. The Gas Tech Electronic Products (Pvt) Ltd. has invented LPG Kit for motorcycles/scooters (4 stroke and 2 stroke).Can be fitted in 50 cc to 375 cc air cooled , single cylinder 2 stroke as well 4 stroke vehicles with cent % fuel efficiency, with clean exhaust and zero pollution.
Significance of Awareness in purchasing of green products
Generally speaking awareness comprises a human’s perception and cognitive reaction to a condition or event. Awareness does not necessarily imply understanding, just an ability to be conscious of, feel or perceive. To create more awareness for the consumers, many companies can be involved in programmes that support the environmentally friendly products. The consumers with respect to high to average level of green product awareness show high to medium level of green buying behavior and consumers having awareness to small degree and not at all show low green buying behavior. Hence there is an urgent need to make consumers aware about green products in order to speed up the green buying behavior among all consumers. (Rouf & Rajendran 2014)
The media are playing a significant role in creating awareness and educating people about the benefits of environment conservation to the society (Lalit & Kanokthip, 1998). In developing awareness of a green product, companies attempt to augment consumer knowledge of the product and its environmental attributes in the hope of bringing about purchase behaviour. But still now the exact nature of the relationship between environmental knowledge and environmentally sensitive behaviour is still to be established (Arbuthnott & Lingg, 1975). Consumer awareness might be useful when the manufacturer’s objective is to overcome resistance to new environmentally safe packages. Advertising of the new advantages and benefits of such products helps its consumers become more aware of the damage to the environment and they tend to change their buying habits. Unless consumers are aware of the advantages of green products, manufacturers‟ effort to introduce this product to the market will be wasted efforts (Kassaye & Dharmeda 1992).
Challenges in adopting Green Marketing
Implementing Green marketing is not going to be an easy job. The firm has to face many problems while treading the way of Green marketing. Challenges which have to be faced are listed as under:
- Green marketing encourages green products/services, green technology, green power/energy; a lot of money has to be spent on R&D programmes. So practicing green marketing initially will be a difficult and costly affair.
- The customers may not believe in the firm’s strategy of Green marketing, the firm therefore should ensure that they convince the customer about their green product, this can be done by implementing Eco-labeling schemes. Eco-labeling schemes offer its “approval” to “environmentally less harmless” products have been very popular in Japan and Europe. In fact the first eco-label programme was initiated by Germany in 1978.
- in the beginning the profits will be very low since renewable and recyclable products and green technologies are more expensive. So Green marketing will prosperous only in long run.
- Many customers may not be willing to pay a higher price for green products which may affect the sales of the company.
- The firms practicing Green marketing have to strive hard in convincing the stakeholders and many a times there may be some who simply may not believe and co-operate.
The Future of Green Marketing
There are many things to be learned to avoid green marketing myopia, the short version of all this is that effective green marketing requires applying good marketing principles to make green products desirable for consumers. The question that remains, however, is, what is green marketing’s future? Business scholars have viewed it as a “fringe” topic, given that environmentalism’s acceptance of limits and conservation does not mesh well with marketing’s traditional axioms of “give customer what they want” and “sell as much as you can”. Evidence indicates that successful green products have avoided green marketing myopia by following three important principles:
Consumer Value Positioning
- Design environmental products to perform as well as (or better than) alternatives.
- Promote and deliver the consumer desired value of environmental products and target relevant consumer market segments.
- Broaden mainstream appeal by bundling consumer desired value into environmental products.
Calibration of Consumer Knowledge
- Educate consumers with marketing messages that connect environmental attributes with desired consumer value.
- Frame environmental product attributes as “solutions” for consumer needs.
- Create engaging and educational internet sites about environmental products desired consumer value.
Credibility of Product Claim
- Employ environmental product and consumer benefit claims that are specific and meaningful.
- Procure product endorsements or eco-certifications from trustworthy third parties and educate consumers about the meaning behind those endorsements and eco-certifications.
- Encourage consumer evangelism via consumers social and internet communication network with compelling, interesting and entertaining information about environmental products.
Green marketing covers more than a firm’s marketing claims. While firms must bear much of the responsibility for environmental degradation, the responsibility should not be theirs single-handedly. Green marketing requires that consumers want a cleaner environment and are willing to “pay” for it, possibly through higher priced goods, modified individual lifestyles, or even governmental involvement. Until this occurs it will be difficult for firms alone to lead the green marketing revolution. It must not be forgotten that the industrial buyer also has the ability to pressure suppliers to modify their activities. Thus an environmental committed organization may not only produce goods that have reduced their harmful impact on the environment, they may also be able to pressure their suppliers to behave in a more environmentally “responsible” fashion.
Green marketing should not be considered as just one more approach to marketing, but has to be pursued with much greater vigour, as it has an environmental and social dimension to it. And thus green marketing assumes even more prospects and relevance in developing countries like India.
Arbuthnott, J. and Lingg, S. (1975). A comparison of French and American environmental behaviours, knowledge and attitudes. International Journal of Psychology, 4(10), 275-
Kassaye. W. Wassen and Dharmeda V.(1992). Balancing Traditional Packaging Functions with the New Green Packaging Concerns. Advanced Management Journal, 57 (4), 15.
Polonsky, M.J. (1995). A stakeholder theory approach to designing environmental marketing
strategy. Journal of Business and Industrial Marketing.10 (3), 29‐46.
Lalit M. Johri and Kanokthip S. (1998). Green marketing of cosmetics and toiletries in Thailand. Journal of Consumer Marketing, 15(3), 265 – 281.
Rouf Ahmad Rather and R Rajendran (2014). A Study on Consumer Awareness of green products and its Impact on Green Buying Behavior, International Journal of Research (IJR), 1 (8), 1483-1493
Faculty, Department of Management
Mewar Institute of Management, Ghaziabad
India is a democratic nation. Here government and financial institutions work framed by the people, of the people and for the people. Even in our preamble of constitution it is clearly mentioned that here all citizens are totally secure and they must receive equality of status and opportunity, justice, having liberty of thought and expression and the dignity of the every individual is assures. So every citizen is legally having right of transparency and accountability of government overall system including banking sector also. These research papers contain analysis of the implementation status of RTI in Indian banking sector with special reference in State Bank of India. Bank is a financial institution which works for the general public. Its functioning is to accept deposits and saving of a common man and also allow them lending or credit facilities. The basic resource of banking sector is collected from the Indian citizen, it is the duty of banking sector to handle this resources very carefully and ensure their proper utilization. Even bank must create transparency and proper accountability in their process, for getting less chances for corruption. Even a lot of people do not know that any bank may public sector or private sector come under RTI and if customer have any issues with them, they can file a RTI against them and get any kind of information. Till now there is a need of awareness in Indian citizens to understand RTI and file RTI to get any information they need. Information which is available in any form material in banking sector comes under RTI. It includes records, documents, memos, e-mails, opinions, advices, press releases, circulars, orders, logbooks, contracts, reports, papers, samples, models, data material held in any electronic form. It also includes information relating to any private body which can be accessed by the public authority under any law for the time being in force. The present era of globalization and highly competativeness, public bodies are also spreading their wings speedly to become global brands rather in corporate field or banking industry in which State Bank of India possess good reputation in all over the world basically it covers maximum developed countries . Due to heavy involvement of public functions in banking sector, it is vital to fix their accountability and responsibility towards their customers.
Keywords: Right to information, State Bank of India, financial institute, globalization.
The Right to Information Act was introduced in the year 2005, it replaced the Freedom of Information Act, 2002. The motive behind the introduction of this act was to set up a government system to provide information to the citizen of the country. It was for the betterment of the right to information. Under this any citizen can ask for information from any public authority, and the public authority is oblige to provide the information within thirty days. It makes compulsive to public authority for maintaining a computerized record, so it is easier to provide information to anyone who is seeking it. But the earlier times, the information disclosure was restricted in India under the Official Secrets Act, 1923 and some other laws. But by the introduction of the RTI Act these restrictions were loosened up. This Act was passed by the Parliament in June 2005 and came into force from October 2005. it was a central Act. One thing is very interesting about this act was that before its lawfully act by the central government it was already in forced at the state level some of the well known examples are in 1997 Tamil Nadu and Goa, Karnataka and Rajasthan in 2001, Delhi in 2001, Maharashtra and Assam in 2002, MP in 2003, Jammu and Kashmir in 2004, and Haryana in 2005.
Under the RTI act Indian Legislature did not include private bodies directly. But due to public demand or under various different type of circumstances they bound to put certain part of this private regulatory bodies under their authority one of the landmark judicial pronouncement of Sarabjit Roy v. Delhi Electricity Regulatory Commission (1) it was reaffirmed by the Central Information Commission that privatized utility companies are also included under the umbrella of the RTI Act, regardless of their privatization. After studying various blogs and news article one of the finding came out that till now a general public have misunderstanding that those entities which are getting subsidies or are funded by the government are comes under the purview of the RTI Act. But the hidden fact is that any private bodies can falls under the RTI whether or not they are substantially funded or aided by the government. Private entities are fall under the range of the RTI Act by their registration under any public authority through which it comes. An individual can gain any information from a private body, just by identifying the concern Public Authority with whom the private entity is registered. As banks are register themselves through the Reserve Bank of India whether private or public bank and their regulatory functions are comes under RBI and Co-operative Societies register themselves through Deputy Registrar of Co-operative Societies.
Objective of Research:
- To select the India’s no.1 bank and find out its course of action and responses towards public under RTI.
- To focus the essential feature of RTI in India’s renowned and must trustable bank i.e, SBI.
- To find out the relationship of banking sectors with RTI.
- To create attention of customer towards their right and duties in public sector bank with special reference of SBI
All the study has been based on secondary data from the website, published news paper articles, court orders related with banking and financial institutions and blogs of renowned authors.
Structure of RTI in the State Bank of India
- Central Assistant Public Information Officer (CAPIO) These officers send the application or appeal to the Central Public Information Officer or the concerned Appellate Authority for disposal. An Assistant Public Information Officer is not responsible for supply of any information.
- Central Public Information Officer (CPIO)Central Public Information Officers are responsible for giving information to a person who seeks information under the RTI Act.
- Appellate Authority (A A)If an applicant is not supplied information within the prescribed time of thirty days or 48 hours, as the case may be, or is not satisfied with the information furnished to him, he may prefer an appeal to the First Appellate Authority who is an officer senior in rank to the Central Public Information Officer.
RTI Applicability in SBI
- Application format :There is no prescribed format of application is given in RTI Act. The applicant can use plain paper which should contain the name and complete postal address of the applicant. However in cases information is sought electronically, the application should contain the name and postal address of the applicant. The mode of application should be English or Hindi or in the official language of the area in which the application is being made, accompanied by the prescribed fee and specifying the particulars of the information sought.
- RTI Fee : The RTI fee is to be paid by Demand Draft or Bankers Cheque or IPO in the name of ‘State Bank of India’ and payable at the centre where CPIO is located. Or in other condition applicant may deposit the prescribed fee in the ‘P & T Charges Recovered Account’ at any branch of the State Bank of India and will attach counterfoil thereof in original with the application / request while forwarding it to the CPIO / CAPIO. A specially designed voucher has been rescribed by the Bank for depositing the RTI fee / additional fee.
Format for the voucher is:
|Application fees ……………………. Rs. 10/-|
|Additional fee – as cost of information|
|a.||Rupees two for each page (in A-4 or A-3 size paper) created or copied.|
|b.||Actual charge or cost price of a copy in large size paper|
|c.||Actual cost or price for samples or models|
|d.||Information provided in diskette or floppy rupees fifty per diskette or floppy|
|e.||Information provided in printed form at the price fixed for such publication or rupees two per page of photocopy for extracts from the publication.|
Types of information can be taken from the SBI under RTI
Section 4(1)(b) of the Right to Information Act, 2005
Any citizen of country has a right to seek information from any public authority which works for the benefit of public and under its control. This right includes work inspection, any documents and records; taking notes, certified copies of documents and records also consider any certified samples of material held by or under control the public authority. One thing is important about the seeking information under the Act is that it allow only those information , which already exists and is held by the public authority or held under the control of the public authority. The Central Public Information Officer has no right to create information; or to interpret information; or to solve the problems raised by the applicants; or to furnish replies to hypothetical questions. Even any citizen has a right to obtain information from a public authority which already stored in computer or other device or in e-mail in the form of diskettes, floppies, tapes, video cassettes or in any other electronic mode or through print-outs provided. An applicant can received information ordinarily in the form in which it is sought. However, if the supply of information would disproportionately or divert the resources of the public authority or may cause harm to the safety or preservation of the records, that form of information may be denied by the public authority. The CPIO should not re-shape the information.
Information which is not to be Disclose under RTI (Exempted information)
The Act provides under Sections 8 and 9, certain categories of information that are exempt from disclosure to the citizens. The following categories of information are exempt from disclosure under Section 8(1)
|a.||information, disclosure of which would prejudicially affect the sovereignty and integrity of India, the security, strategic, scientific or economic interests of the State, relation with foreign State or lead to incitement of an offence.|
|b.||information which has been expressly forbidden to be published by any court of law or tribunal or the disclosure of which may constitute contempt of court;|
|c.||information, the disclosure of which would cause a breach of privilege of Parliament or the State Legislature;|
|d.||information including commercial confidence, trade secrets or intellectual property, the disclosure of which would harm the competitive position of a third party, unless the competent authority is satisfied that larger public interest warrants the disclosure of such information;|
|e.||information available to a person in his fiduciary relationship, unless the competent authority is satisfied that the larger public interest warrants the disclosure of such information;|
|f.||information received in confidence from foreign Government;|
|g.||information, the disclosure of which would endanger the life or physical safety of any person or identify the source of information or assistance given in confidence for law enforcement or security purposes;|
|h.||information which would impede the process of investigation or apprehension or prosecution of offenders;|
|i.||cabinet papers including records of deliberations of the Council of Ministers, Secretaries and other officers;|
|j.||information which relates to personal information the disclosure of which has no relationship to any public activity or interest, or which would cause unwarranted invasion of the privacy of the individual;|
Rules for the prescribed time limit or disposal and Appeals Requests:
|S.No||Situation||Time limit for disposing off applications|
|1.||Supply of information in normal course||30 days|
|2.||Supply of information if it concerns the life or liberty of a person||48 hours|
|3.||Supply of information if the application is received through CAPIO||05 days shall be added to the time period indicated at Sr. NO.1 and 2.|
|4.||Supply of information if application / request is received after transfer from another public authority:
(a) In normal course
|(a) Within 30 days of the receipt of the application by the concerned public Authority.|
|(b) In case the information concerns the life or liberty of a person.||(b) Within 48 hours of receipt of the application by the concerned public authority|
|5.||Supply of information if it relates to third party and the third party has treated it as confidential.||Should be provided after following the procedure given in Section 11 of the RTI Act.|
|6.||Supply of information where the applicant is asked to pay additional fee.||The period intervening between informing the applicant about additional fee and the payment of fee by the applicant shall be excluded for calculating the period of reply.|
Prescribed rules for Appeals :
- In the normal case the appeal should be disposed off within 30 days of receipt of the appeal.
- In exceptional cases, the Appellate Authority has a power to take 45 days for its disposal with considering reasons for which it recorded.
Acceptance and rejection of RTI applications in SBI and other Banks
There were data taken from the RTI foundation of India website which the present analysis of RTI application in Banking sector and it gives last data updated up to 2012-13. It present that Only three Banks, Bank of Maharashtra, State Bank of India and Bank of India, showing a trend of increasing number of RTI applications in 2012-13 in comparison to 2011-12. In which Bank of Maharashtra recorded the highest increase in no. of application received it was more than 25%. On the other hand data of 17 other Banks has shows decreased data of RTI requests in 2012-13 in comparison of previous year. On the other hand, both State Bank of India which having top NPA grosser amongst the 20 Banks and Bank of India which is the 3rd largest bank witnessed a slight growth in the number of RTI applications received and they also shown slight declining in the percentage rejected RTI applications in 2012-13 as compared to 2011-12. But the trends of rejection rate studied more than doubled in Allahabad Bank, United Bank, UCO Bank and the Bank of Baroda in 2012-13. Even a Corporation Bank which did not reject any RTI application in 2011-12, had rejected more than one third of its RTI applications received in 2012-13. This study focused that Rejection rates trends were showing decreased rate in 2012-13 in the Bank of India, Indian Bank and Vijaya Bank as compared to the previous year. The latest NPA figures for Banks as in March 2014 on the RBI website despite are not available.
There was article presented by Chetan Chauhan in Hindustan Times, New Delhi, has presented an analysis which is presented by one of the Delhi based advocacy group containing over 80,000 applications who filed under the Right To Information Act against 24 major public sector undertaking (PSU) banks it shows huge percentage of rate of rejection increased in 2015-16 as compared to the previous 3 years. It shows approximate 50% rejection rates of the public sector banks. Which is strongly a sign of indication that the banks are more reluctant for providing the information sought. These 24 banks, were blamed for the transparency related to governance constraint enacted law in 2005, reportedly about 40% of the RTI applications filed with the finance ministry. A Reserve Bank of India appointed PJ Nayak committee had cited RTI as one of the “constraints” on the governance in the banks.
This committee has also find out that on the total number of application received by the bank, most of the applications are related with the information of non-performing assets and others are related with the discrepancies of applicants regarding bank account and reasons for not opening an account. According to Nayak committee review related to the RTI load on public sector banks, it was presented that each bank is receiving the average applications in its branch is not more than 2. This committee has projected the debunking constraint theory of banking sector. He supported this theory with a argument basis that most banks have sufficient staff to deal with rising RTI applications received and taking suitable action on that but banks are reluctant to provide information citing constraint on resources. Even this committee has cleared in its report that there is no any co-relation between non-performing assets of the banking industries and the volume of the RTI applications filed. The banks had opposed RTI applications seeking information about loan defaults citing privacy provisions but the Supreme Court in 2016 directed them to provide information citing larger public interest. Among the banks, the State Bank of India received one-third of the total information requests followed by the Punjab National Bank and Bank of Baroda.
One of the most adorable article was Written by Utkarsh Anand | Amitabh Sinha & Ravish Tiwari New Delhi | Published: December 17, 2015, As On 16th December 2015 the supreme court of India strictly bounded the apex body of banking sector i.e., RBI regarding giving up the information by private and public sector banks under the RTI should be taken as the action of trying to covering up the banking action of underhand from the public gaze . A bench of Justices M Y Eqbal and C Nagappan has mentioned that “RBI is supposed to uphold public interest and not the interest of individual banks. We have summarized that many financial institutions have resorted to such acts which are neither clean nor transparent. The RBI in association with them has been trying to cover up their acts from public scrutiny”. Even this committee has given very strong verdict about the RBI attitude toward ignorance of various orders of Central Information Commission and high courts over suspicious disclosure of information relating to banks.
Even court has totally rejected RBI’s arguments for fiduciary relationship with other bank and withholding them to disclose various such informations those will be exempted under the RTI Act and it is also clearly mentioned by the court that RBI is not legally authorize to create fiduciary relationship with any bank or to maximize the benefits of any public or private sector banks. It is the statutory duty of RBI is to uphold the public interest priority basis. It must be act with transparency without hiding any information and give full disclosure all the informations seek by any applicant.
After reading various articles I came on this conclusion that RTI is a powerful tool in the hand of every citizen and it would deliver significant social benefits. It gives a strong support to the national democracy, provide good governance by empowering the rights of citizens to participate effectively and hold the government officials accountable. This act is not made for just providing the information only, as in most of the countries it act as an effective watchdog which ensure that everyone is coming in purview of the Act to work in accordance with rules and regulations, without any irregularities. However, it should be strictly require to implement not only political or government authorities but also on active civil societies and private authorities .Currently, the RTI Act is implemented in India and accepted by the peoples but it is passing through a decisive phase, it strongly require very much more efforts to increase its growth and development. Only doing protest against the lack of implementation of this law alone is not sufficient, even it requires encouragement for the intiatator for its full implementataion, growth and better result. As currently as per court verdict RBI must be fully support the common people, national economy and government by accepting the full norms of RTI and to create transparency and quick response towards applicants.
- Unavailability of any previous study which has been conducted to find out the role of RTI and its effective functioning in banking sector.
- As in this research availability of published data from State bank of India is not available. All data has been taken from the website of well known authors of renowned newspapers.
- Relevancy of data has not be supported by any authorized published data. Insufficient availability of current data related to RTI applications position in SBI.
Some of the recommendations regarding the role of RTI in banking sector are mentioned below:
- This act needs more clarification for implementation of specific provisions .As it require step by step action detail for each specific provision.
- As India is well technofied and having good strength of educated people but till now there is a huge requirement of Mass awareness campaign at Central and state levels. The main objective behind this awareness program is to increase public interest and knowledge about their right to informantion from any public authority, to encourage citizen involvement; and also to increase transparency within the government system.
- To compulsion all public authorities and training institutions for the incorporation and implementation of training module based on RTI in all training programs related with public awareness.
- To Develop a consensus on a common set of rules and norms that would enable and encourage public to apply for information from residing in one state from any other state, rather than going firstly to study and understand the rules of each state and competent authority separately.
- Application No: CIC/WB/A/2006/00011 (Right to Information Act – Section 19). 2006