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The Government has been coming under pressure from across the board on details of people who have stored black money in foreign banks. While Swiss banks have caught everyone’s attention, it is also alleged that there is enough and more stored in offshore havens like Mauritius, Seychelles, Cayman Islands and so on.
While AAP started the trend, media has fanned the fire. Now, it is almost as if the list should contain the names of some very rich industrialists and political families. If, by design, they have stayed away from these banks, then people will say the Government is protecting them.
To resolve this dilemma, the Government has decided to rename the Public Sector Banks. Accordingly,
State Bank of India becomes Swiss Bank of India
Bank of Baroda becomes Bank of Luxembourg
Punjab National Bank becomes Seychelles National Bank
Bank of India becomes Bank of Mauritius
and finally, Canara Bank simply becomes Cayman Islands Bank.
The Government is also accordingly holding off on making Public Sector Bank (PSB) head appointments. It will instead recruit international bankers from target countries to head them.
The Government announced this radical initiative with elan through a series of tweets:
(Read the full report here.)
While AAP started the trend, media has fanned the fire. Now, it is almost as if the list should contain the names of some very rich industrialists and political families. If, by design, they have stayed away from these banks, then people will say the Government is protecting them.
To resolve this dilemma, the Government has decided to rename the Public Sector Banks. Accordingly,
State Bank of India becomes Swiss Bank of India
Bank of Baroda becomes Bank of Luxembourg
Punjab National Bank becomes Seychelles National Bank
Bank of India becomes Bank of Mauritius
and finally, Canara Bank simply becomes Cayman Islands Bank.
The Government is also accordingly holding off on making Public Sector Bank (PSB) head appointments. It will instead recruit international bankers from target countries to head them.
The Government announced this radical initiative with elan through a series of tweets:
(Read the full report here.)