Bank of Baroda black money scam is a ‘warning’ to Narendra Modi: If you don’t get hard on ‘hoarders’ soon, India will bleed to death!


Many others, not-yet-exposed poor, unknowing vendors and hawkers are managing the ‘dirty money’ of the repulsively rich people in this country, and incidentally, a national bank has been caught playing the facilitator to one such scandal. The worst part is these poor people don’t even know they own companies, or have shares in others.


They are the pseudo-entrepreneurs of today’s India, an underprivileged breed that was, in the Bank of Baroda scam, paid around Rs. 10000-15000 each for their services in absentia. These rabid black money hoarders, in a typical modus-operandi, made poor people, largely slum-dwellers, Directors of 59 companies, and at stake was Rs 6,172 crore, already gone down in history as the ‘Bank of Baroda black money scam’.


This is not for the first time that such horrific activities have emerged in national news, with every media house reporting Bank of Baroda’s dubious role into these illegal foreign exchange transfers.

Despite the Narendra Modi-Government’s vociferous claims of bringing in back the black money from black money-havens like Switzerland, the fact is that he will never be able to root the evil out!


No Government will ever be strong, resourceful and dedicated enough to ensure that this kind of financial contamination is removed out from the country, which is bleeding black money! India is too large to manage, first. There is a small number of very very rich people, numbering in lakhs I’m sure, who have strong political and other kind of rewarding connections. The quid-pro-quo between the criminals and the abettors ensures that the mal-events escape the hawkish eyes of our watchdogs… there are so many bloody ways these days…

For example, the two BoB big-wigs who had their hands in the pie -Bank of Baroda Ashok Vihar branch’s two officials – assistant general manager SK Garg and Jainish Dubey, head of foreign exchange division (arrested by CBI, by the way) – must have been bed partners with another man from another domain of influence, or many men from many, varied domains.


Poor criminals, the businessmen who sought BoB’s help – Gurcharan Singh, Chandan Bhatia, Gurucharan Singh, Sanjay Aggarwal and many others, behind the transfers to Hong Kong and Dubai – must be kicking their luck…

But like I said, this is trend forever… There will be many more BoB’s of another name, gluttonous and unprincipled, ready to fall from grace…there will be many more insatiable businessmen to risk everything…

Let’s make peace with it.

By the way, the total amount of black money deposited in foreign banks by Indians is unknown, although some reports claim a total in excess of US$16.4 trillion… stashed in Switzerland.

Is it really possible that there could be so much money in existence in the world, let alone by Indian players only?


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