Wednesday, Nov 24, 2004
Wednesday, Nov 24, 2004 |
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By Our Legal Correspondent
NEW DELHI, NOV. 23. The Supreme Court has held that if an officer in a commercial bank exceeded authority and broke rules in advancing loans, it will be a breach of discipline, trust and a misconduct. A Bench, consisting of Justice K.G. Balakrishnan and Justice A.R. Lakshmanan, gave the ruling upholding the dismissal of an officer of the State Bank of India on the ground of misconduct. The Bench said: "If the charged employee holds a position of trust where honesty and integrity are inbuilt requirements of functioning, it would not be proper to deal with the matter leniently. Misconduct in such cases has to be dealt with iron hands. Where the person deals with public money or is engaged in financial transactions or acts in a fiduciary capacity, the highest degree of integrity and trustworthiness is a must and unexceptionable." Mr. Justice Lakshmanan said that a bank manager was required to exercise higher standards of honesty and integrity when he dealt with the money of the depositors. He should take all possible steps to protect the interest of the bank and discharge his duties with the utmost integrity, honesty, devotion and diligence.
Found guilty
"Officers and employees of any bank [nationalised or non-nationalised] are expected to act and discharge their functions in accordance with the rules and regulations of the bank," he said. Ganesh Santa Ram Sirur was working as manager of the Kokan Bhawan branch of the SBI in Mumbai. He was found guilty of granting a loan to his wife under the scheme meant for the educated unemployed. After the disciplinary authority found him guilty, the case was referred to the appellate authority which recommended his dismissal. He was dismissed on May 24, 1995. The Bombay High Court rejected his petition challenging the dismissal and the present special leave petition was directed against this judgment.
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