Corruption in the banking sector is not going away.

 Another one came out without losing one

hit. It was a lot like a tsunami that would float everything. Basic Bank was the best bank in the
public sector from 20 to 25 years. The CAG report also blamed the board, including the then
chairman, for irregularities in the distribution of debt. The Comptroller and Auditor General
(CAG) office has found widespread irregularities in distribution of basic bank loans. The state's
constitutional body says, The process by which the bank has approved the loan is unprecedented
in the banking history of Bangladesh. Loans have been given to anyone willingly, without any
scrutiny. Because of this, the bank was once the most profitable state-owned bank. On the
contrary, Basic Bank is currently in deep crisis. The CAG report said that the total irregularities
of Tk 1,5 crore have been raised. The evidence shows the direct involvement of the bank's then
chairman in approving the illegal loan proposal. 
Up until now, Bangladesh Bank has given more than Tk 4 billion to rescue the state-owned Basic
Bank, which has fallen into the abyss due to rampant corruption and looting. Because of this, the
capital deficit of Basic Bank, which has been robbed of money in the name of loan, has been
reduced. The current deficit of the bank is Tk. 20 crore, which was Tk. 8 crore in the September
quarter of last year. In this, the basic bank's capital deficit has been reduced to Tk 6 thousand 5
crore in just six months.
In a special way, the huge amount of capital is reduced. As a result, a large deficit will no longer
be seen in the quarterly report of Bangladesh Bank.
In the review of various financial indicators of the Basic Bank, it appears that the bank lends
aggressively without scrutiny that it has exceeded its credit limit. Till now the limit could not be
reached. According to the rules imposed by the Bangladesh Bank, the basic bank's loan-to-
deposit ratio (ADR) was expected to be 5 percent. According to the latest data, Basic Bank has
received information on loan scam, corruption and harassment of Tk. A large part of it has been
smuggled abroad. Moreover, the bank's board of directors, officers and businessmen have been
robbed in the name of fraudulent company. As a result, the government and the people do not see
the possibility of getting thousands of crores of money back.

Meanwhile, a detailed inspection of Bangladesh Bank was completed on December 7, 2013, on

December 2 last year. The 8th visit report summarizes the activities of the bank's head office and
five branches. Of these, officials of Bangladesh Bank visited Srejmin at the head office and six
major branches. A report was also made by Bangladesh Bank in the 21st.
The analysis of the report shows that despite the many problems, large-scale debt has been
refinanced without fulfilling the one-time repayment (down payment) conditions. Various
branches, including the head office of the Basic Bank, have increased irregularities in the grace
period of the loan, issuing loans without taking bail, opening LCs without verification and
interest on agricultural loans. Although the board has changed, the capital situation of the bank
has declined greatly. Until 20, the bank had a capital deficit of Tk. In 20 years, the government
provided a capital of Tk 1 crore and Tk. In two years, the government gave Tk 2,000 crore to
save the bank.

With the help of PWC,some steps were taken.More independent members were introduced to
the bank to make the consumers feel more in sync with the organization.This helped close the
gap between the consumers and the service providers.Basic bank previously failed miserably to
fill the provider gap number 3 ie the communication Gap.More external and internal Audits were
done, which would ensure the Transparency of the organization.Service Recovery would be a
huge deal for the organization.Since the trust was already lost.Basic Bank couldn’t ensure a
decent compensation to its consumers.
To top it all off, The Anti-Corruption Commission (ACC) has not been able to file chargesheet in
any of the three-and-a-half years worth of Tk 3,000 crore loan scam, despite conducting searches
and investigations for nine years.