2018: The year when private sector ran riot

The year 2018 will be a water shed year for private sector in India, whether it is banking or any other business. Somewhere over the years the Indian business and private banks are going the wrong way to capture the market and business. It all began with so called "well known" jewellers who were able to impress PM Modi (who also happens to be Gujarat) so much he earned the honour of being called "bhai" (of course commonly used in Gujarat).

Then comes the news of another controversial business with Gujarat connection used his proximity to PM and to get controversial Defence contract overtaking more than seventy- year- old PSU, HAL. Even though corruption or money trail are yet to be established, the controversy has badly damaged the image of PM Modi. Not only this, now comes the news about resignation of ICICI Bank Chairman Chanda Kochhar who was forced to resign.

A bank which is notorious of forcing and inducing people to take loans with a claim of very low interest clearly example of artificially showing high volume of business. A well connected Chief used her office to help her kith and kin. Imagine she also managed to impress PM Modi in the name of Digital India by using him to dedicate ÏCICI Digital Village" in Akodara in Sabarkanta district in Gujarat. If this was not enough PM Modi went on praise Chandana Kochhar through twitter "splendid effort by Chandna Kochhar! Her enthusiasm and dedication towards Swatch Bharat Mission is noteworthy". Another classic example äswatch business ethics".

The brand "Tata" was once looked upon as a symbol of honesty and integrity towards their customers. A few days back Tata Sky without any prior intimation removed channels like India Today, Sony etc because some pricing dispute between them and channel partners. The company did not even to put up a public notice to aplogise. It is only after the viewers made hue and cry, they took steps to ask the viewers to send sms/missed call etc. I am sure if such situation was there when JRD was alive, he would have either sacked the head or he himself would have taken the responsibility to apologise to the customers.

When India attained independence, the Tatas, Birlas and many other businessmen/ industrialist had to struggle to establish their business with little or no support from the then government and still managed to establish them. Now their inheritors instead of getting everything on silver platter are unable to conduct their business honestly instead use their money and proximity to enhance their business through unfair means.

As for as politicians are concerned, as long as the business barons contribute to them and their party, they bestow all praise and honours and once their unfair deeds are made public, they pass on the buck others or previous regime. Is it not the time for PM Modi who always touts his "humble tea vendor" to take lead keep away the so- called business man and their families or they are a must for him and his party to keep "Congress and Opposition free India".

Of what use of wealth without work and business without morality as rightly said by Gandhiji whose 150th birth anniversary is being celebrated in India. Privatisation which was supposed to deliver good service is fast turning into myth or rather turning worse than government. People should not keep quiet to allow this rot for too long and speak up before it is too late.