END THE SYSTEMIC DEFRAUDING OF BANKS

Apropos ‘Gold scam: SBI branch manager, financer booked (HT, March 20), this is not a one-off case. There are thousands of such cases, where substandard gold is mortgaged with banks for loans. A well-oiled racket operates where the bank manager, the empanelled goldsmith and even the so-called loan-taker divide the cut. We need to ferret out these cases as well and stop this institutional systemic fraud with our banks.

M Lal Garg, Chandigarh