Of Money in Swiss Banks
Insecurity is an animal instinct. One can observe squirrels and other animals, even the little insets, piling up food for dry winters. Money is acquired not only for meeting the present necessities but also for the future needs. So it is safely kept aside, may be in banks or in lockers to prevent any untoward incident. Those who are not satisfied they choose banks on the foreign land for keeping their money safely away. It has been happening ever since. Indian rich have trusted Swiss banks more than Indian banks and they have put their money in the safe custody of UBS of Switzerland.
How this money is siphoned off from India, through what channel and how it has got converted into Swiss currency or US currency, is matter of deep analysis and introspection. I do not know since I am not used to it. Those who know are already in power and they have been, for a few decades have been raising hue and cry about this money insisting its disclosure first then its deportment. They know very well and since the issue is public sensitive, so they are building support around it. It has started pouring in from several quarters. Now it is publicly demanded to extradite the money and put it back where it belonged to, i.e. India.
A few questions have crossed my mind while reflecting upon the issue and I would like to share with my readers. Firstly, whose money the UBS has been holding, mine, yours, or the affluent people? Who is affluent today, the one who is wielding power and position. And this is none other than the political leaders in the past, whose sons and daughters have ascended the throne or political power. So naturally it will be in their best interest to get into any fresh controversy. The country has seen enough of its scams and scandals. Nowadays, no more eyebrows are raised on the issue and the issue of corruption has been given a kind of immunity.
Secondly, this money, if brought back, in whose custody it will remain? yours, mine, or the political leaders? You and I will have no control over it. This will finally go to the finance minister who will decide with the help of his colleagues and spend it by either giving soft loans to the rich and affluent or in some infra-structure, from where it will again fall into the hands of modern ruling members. It will never go to the Public. We will have no control over it. And, so far as the government is concerned, it has lost all the credibility it enjoyed. Therefore, the very first thing we should come face to face to resolve the issue which is at the sore point is how to handle expeditiously the present scams; how to bring the culprit to books and how to initiate some punitive measures to ensure a neat and clean governance of Public funds in future. Needless to say, the government agencies and those in control are trying to raise issues to distract the public attention. First it was common wealth, then Delhi building bungling, 2G Raja Scams, Adarsh Housing Society Scam, LIC Housing Insurance and housing loan scam and now Nira Radia Tape scandals, the list is getting longer. At the helm is involved mismanagement of Public funds and siphoning off money to the tune of lakhs of crores of rupees. A common man cannot spell the money in digits.
Last but not the least is the question, how to ensure such a bungling in Public accounts. The common man is not just a watch dog but the dog who watches and the thieves steal the show. They carry both cheese and honey. Ordering an investigation after the lid is blown over itself is a big scam. Those who are entrusted to rule, if they turn blind eye and fail to ensure good governance, is itself a serious issue. So at the stake is the credibility of the house of the largest democracy of the world. A bad headmaster gives aches to all, school, students and parents alike.
