Letter to BS: Watering down framework for detection of bank frauds is wrong

This refers to “Bankers get shield from fraud heat; boards of PSBs to be held accountable” (January 29). Watering down the framework for timely detection, reporting and investigations of high-value frauds with a view to reducing the accountability of MDs/CEOs of public sector banks (PSBs) is not the way to encourage lending. Dealing with frauds and lending are two independent issues. Are we saying that the responsibility and accountability for dealing with frauds gets diminished when there is an economic and, bank lending, slowdown? There must be consistency in dealing with frauds. There must be a clearly defined and consistent