Regarding: the immediate need for restructuring the INTEREST-POLICY of the Banks in India

Aim: (1) To bring natural justice to the people of India from the Plain Cheating by the Banks in India.
(2) To help the public to acquire scientific explanations of factors such as 'Banks' in order that they get released from cheatings/exploitations from governmental bodies and/or monopolists. 

BANK: CREATION & PRESERVATION

The Divine/Scientific Definitions and Explanations are primary.  If the Hon'ble Courts or the Governments, etc. do not like using the term 'Divine', they shall replace it either with Science or with the phrase 'Creation, Preservation, and Destruction of the Universe.' To reach the Divine Definitions and Explanations, the following factors are to be set in order. First of all we need to know whether the institution 'Bank' is primarily created and preserved for the Bank Management or for the Public.  Each and everything is easy when we do it divinely = scientifically. Divinely doing means, doing according to the Qualities of GOD, viz. Sathyam (Truth), Dharmam (Duties & Virtues), and Neethi (Justice). If those are NOT the Qualities of GOD,  the Creation, Preservation and Destruction of everything would collapse and the need for the reference of Devil with the opposite qualities would result. 

What is the Creation aspect of a Bank? 
The term Creation is to be briefly explained first. 
There are two types of Creation in this Universe. The Direct Creation and the Indirect Creation. 
The living creatures including human beings, the things/objects considered by man as non-living such as Air, Water, Soil, etc., in other words the Universe are by Direct Creation. That is, they can be said as Created by GOD, or by the Energy or Power, the definitions of which are yet to be concluded by the under-developed Science. The Indirect Creation is to be defined as the Creation by the living creatures, especially by man, by using the Science (Scientific Laws) immersed in the Universe. One should realize that Man has no hands in the Creation of the Science of the Universe. In accordance with the Time (set by the Supreme Power), the scientific laws are revealed to man, and he applauds that he found/invented. The cooked food, the boiled water, the Vehicles, the Television, the Computer.... are all made by man using the scientific laws contained in the materials of this Universe. Man is able to carry on the Indirect Creation only because of the Direct Creation established with Science (by GOD). The blessed people recognize that the Indirect Creation is set by GOD to make man Thoughtful, Free, and Powerful as to distinguish him from other Creatures. Thus it is clear that the Bank is an Indirect Creation.

Creation is for Preservation. Born is to live (not to die). [E.g. we cultivate food to eat, build house to live in, make pen to write, etc.]. Everything must be with Purpose, and are with Purpose. The Creation, both Direct and Indirect, are also with Purpose. 
Now let us look for the Purpose of Creation of a Bank. 
Who creates (d) and for Whom created matters first. Who = The Creator is the First Party. For Whom = The Consumer or Customer is the Second Party. The What = the Function=the Operation= the Service joins both the Parties. The Motto of the First Party behind the Creation is the Dharmam (Duty). Everything is to be set in order as per Dharma Shastram, i.e. the Science of Duties and Virtues.  When a Duty or the Purpose behind the Creation is referred, the next part is to see whether the Virtues of that particular Duty is protected as to respect Dharma Shastram.
Here, The Bank Management is the First Party and the Public are the Second Party (the consumers). The Bank Management decides the Motto of the Bank. Whether he establishes the Bank or anything primarily for him or for the Public is the Most Important Factor. In other words, the kind of satisfaction or enjoyment liked by him decides the Motto. It is a Creational Law that everybody does everything for own satisfaction. E.g. (1) Earning money more and more and counting currency notes makes some people happy or more happy. (2) Playing games or cards makes some people happy or more happy. (3) Alcoholic drinks makes some people happy or more happy. (4) Sexual matters makes some people happy or more happy. (5) Helping the Poor or Weak makes some people happy or more happy. (6) Cheating and/or torturing others makes some people happy or more happy. (7) Sacrificing makes some people happy or more happy. (8) Praying to GOD and even avoiding their beloveds makes some people happy or more happy. The above Law applies to the Owner or the Administrator of the Bank as well. If his satisfaction is to earn more for his own financial and other growths, he would try to exploit more (for his services) from the Public.  The Public will be at loss then. On the other hand, if his satisfaction is the satisfaction of the Public by his giving them more/best services at very less charges or with no gains to him, the general public will be at financial gains. How the different Bank Managements consider the above Prime Factor matters first. And in regard to the need for a Bank, as can be experienced, it is a must today. In line with the Time set by GOD, the various branches of Science develop to produce Indirect Creations like the Vehicles (for Land, Water and Air), Radio, Television, Computers, etc. etc., Mine Industries, Manufacturing  Industries, etc. and institutions like Airline Offices, Airports, Sea Ports, Banks, etc. That is the development in the Science of Service necessitate the establishment of a Bank. As can be experienced in every field of life, the different branches of Science are continuing the development in line with the Time, Population, and Needs so require. Development in the Banking Services do occur as part of the General Developments in the Society.

Let us now find who is the Real Owner of a Bank? 
The Capital involved in the Banking Business/Services matters second. It is true that the First Party = The Owner = The Administrator = The Bank Management takes the initiative to set up or start a Bank. He invests a low money amount too. His money-capital is very low. It is to be said further that his money-capital plays nothing except in the beginning. The Brain + Energy Capital etc. exerted by the Administrator do have significance, but its proportion should not be overweighed. When THE CAPITAL of the Bank is also the Money of the Customers/people, the role of the Administrator needs to be under close scrutiny. Because he collects money from the public in the form of deposits, and gives money to the public in the form of loans. Thus it is clear that both the First Party and the Second Party are One and the Same "the Public" in the case of Banks. However, the Present Bank Managements who actually are the Middle-men among the Public to run the Banking Services emerged as the Owner (Unreal) and he becomes/became so strong now. The social structure necessitates People to queue up  in his offices to deposit money as well as to take loans. He plays with public money and acts as if he is the Owner.  It is usual that he tortures the Public. He establishes stringent conditions to the people who approach for or avail loans. And in regard to his service charges, it is reasonable if he charges only for his services. Instead, if he and his staff (associations) avail disproportional gains/benefits out of the public money it is against natural laws. It is not scientific. It is not Divine. This situation is to be remedied scientifically.

Banks - Private and Public Services. 
As for most of the social requirements/services, there are Private Banks and Governmental Banks, all over Earth. Now let us ascertain how should an institution be classified as Public or Private. 
An institution established or required to be established and/or run by the Government as part of their duties in order to serve the requirements of the general public is to be termed as Public. 
In regard to the Service Charges for the particular Public Institution, it depends upon the nature of the Service. That is, whether it is a Necessity, Requirement or Hobby whereas a Necessity Service needed to be executed by the Government by loss, a Requirement Service at no loss no gain, and a Hobby Service at extra charges to meet the expenses needed to run a Government as well as to cover up the losses incurred to execute the Necessity Services at losses. And in regard to Private institutions they are to be considered as involving in jobs according to the tastes and circumstances of individuals. Their activities shall respect Dharma Shastram (Science of Duties & Virtues).

In India, there are Public as well as Private Banks. As explained above, if the First Party or the Bank Management is an institution for exploiting the Second Party, that is the people, the public get thrown into another mishap/ill-luck. The Public and their Funds get exploited at the hands of a few, the Bank Management and their staff. Now the People of India, perhaps many more countries, are experiencing the same. 
Since the Motto of the Bank Management is the deciding factor, it is irrelevant to the Public, whether the Management is Government and/or Private. In general, both are acting in excess on the Public with the Public Money. Some Private firms cheat the Public to the extreme, some Governmental firms rob the Public through devilish (unscientific laws).

Who should be the Real Management of a Bank? 
As per the Science of Services (Sevana Shastram), which is a branch of the Science of Duties & Virtues (Dharma Shastram), when both the First Party and the Second Party are One - the Public, services required by the Public should be managed by the Government. (Investment should not be counted in Financial Terms alone. Personal Will, Energy exerted, Time spent, etc. etc. form part of any Investment).
In India and many countries, there are many Private Banks, wherein the Private Managements' Capital can be said low, and easily repayable; but their brain services and initiatives undertaken by them need to be praised. That is, the Governmental authorities are obliged to take over the Management of the Private Banks, the King and/or the Ministers bowing their Heads to the Founders if they are alive, and respecting the Heirs of the Founders, and compensating financial matters as per Dharma Shastram. The word Government should be understood in the right order. The Grama Panchayats are the Governments in a country. According to the needs of the Villagemen, Financial Institutions like the Banks are to be established by the Grama Panchayats = Local Kings. The Divine Rule calls for Grama Swaraj which is not the present kind of Grama Panchayats. In the Divine Grama Swaraj, wastage of Money, Energy, Materials, Time, etc. will be avoided to elect the Local King and Ministers to rule the villages. Explanations of the same are available in the Web site: www.omsathyam.com.

Amalgamation of the Major Banks in India. 
There are about 30 National Banks, and many other major banks, minor banks, financiers, etc. etc. in India. Even in small towns, there are branches of many national banks. They compete to a certain extent too. Those separate identities of Banks make it very clear that they primarily stand for them (their managements and staff associations) and NOT for the public. All the Banks should be amalgamated with one name. The Public should get same kind of services from all banks. All the different Bank-employees should enjoy same kind of wages for their services. The Computer-Internet Developments make it very easy now to amalgamate all the Banks in One Name. The Banking Policies are also to be developed by financial and social experts in the Government. However, it is  to be stated that until and otherwise the governments are purified as per Dharma Shastram, Public Money should not be immediately transferred to their hands. Otherwise, many will start eating up (money).

The following facts are very  important in/for a Bank :

1. The security for the Public Money is important. Notwithstanding the nature of Management (Governmental / Private), the Public must always enjoy easy steps to deposit / withdraw funds, avail / repay loans, etc. This is to be highlighted due to the political and/or social unrest / fall in Dharma Shastram prevailing in most of the countries on earth, including India. The Governments should always remember that they are only public servants, and have no authority to rob public money in the Banks through some devilish (unscientific) laws developed by them.

2. Since the Bank, Bank Management and the Staff are fed by Public Deposits/Loans, the Bank Management and the Staff should always act as Public Servants, and NOT super-act with the common people. The Managing Director or Chairman of the Bank also should become the servant of the illiterate common man who deposits in the Bank or avails loan from the Bank.

3. Until a Righteous Government take over the Management of all Banks, the present (Unreal) Owner = The Administrator = The Bank Management should recognize always that they are actually NOT the Owner, but the Public are the Owner, and the Bank Management are to represent the Public as their servants. This situation should necessitate the Bank Management NOT to charge the Public too much for the services rendered by the Management and Staff. 

4. The Bank Management and Staff, while lending money, should always give first priority and every support to the farmers and other people who work on soil. Because the Development of every country and countrymen primarily depend upon the Development of Soil. The Production/Manufacturing directly and/or indirectly connected with soil alone will enrich a nation. Not the lotteries and the similar. 

5. Since the Development of a Nation needs to end Poverty in the Nation, the Bank Management and Staff, while lending money should always give priority and support to the poor. While they lend money to the poor, they should consider the poor also as the Masters of the Bank Management and Staff.

6. As per Divine (=Scientific) terms, Cleanliness, Necessity, Requirement, and Hobby are the four Human (+Employment) Divisions on Earth. The Bank Interest Rates should also be established as to match with those 4 Divisions. A brief explanation is given below:

Deposits: The Highest Bank Interest should be given to the Deposits by those people involved in Cleanliness as they spend their Money (+ Interest) for the Development of the Weak /Poor, in other words the Nation. A 2nd Higher Rate which can be said as 75% of the above, shall be given to the Deposits by those people involved in Necessity, e.g. financially handicapped persons. A Bank Interest of approx.50% of the 1st, shall be given to the Deposits by those people involved in Requirement, e.g. those who save during their employment, etc. A Bank Interest of approx. 25% of the 1st, or NIL shall be given to the Deposits by those people involved in Hobby, e.g. who acquired wealth thru NO WORK, and their intention of depositing is primarily Keeping Money in Safe Hands, Laziness, etc.  [The above 4 scientific divisions are well explained in the Divine/Scientific Book 'Manushyanu Daivamakam - Part 3', and briefed in the Web site: www.omsathyam.com  The people who go through those Topics would wonder to know how all the jobs/professions on Earth can scientifically be divided into 4.  Further they will realize then that the Chathurvarnyam in Indian Philosophy & Hinduism  is a decayed skeleton of the above mentioned True Divine/ Scientific 4 Divisions of Jobs.]

Loans: The Lowest or NIL Bank Interest should be applied  to the Loans availed by those people involved in Cleanliness as they spend their Money (+ Interest) for the Development of the Weak /Poor, in other words the Nation. A 2nd Lower Rate which can be said as 150% of the above, shall be applied to the Loans availed to spend for Necessity, e.g. farmers. A Bank Interest of approx. 200% of the 1st, shall be applied to the Loans availed to spend for Requirement, e.g. financial situations falling under Requirement, etc. A Bank Interest of approx. 400% of the 1st shall be applied to the Loans availed to spend for Hobby, e.g. financial situations falling under Hobby. [The above 4 scientific divisions are well explained in the Divine/Scientific Book 'Manushyanu Daivamakam - Part 3', and briefed in the Web site: www.omsathyam.com  The people who go through those Topics would wonder to know how all the jobs/professions on Earth can scientifically be divided into 4.  Further they will realize then that the Chathurvarnyam in Indian Philosophy & Hinduism  is a decayed skeleton of the above mentioned True Divine/ Scientific 4 Divisions of Jobs. ]

7. The unreal Owner = the Bank Management who plays with the Public Money (in the Banks) shall have Supervisors from the Governmental side and from the Judiciary. Those supervisors should have thorough knowledge of Dharma Shastram (The Science of Duties & Virtues). They should not only supervise the Service Charges, but also the wages for the Bank Management and Staff. The wages should be sufficient to fulfil his needs under Cleanliness, Necessity and Requirement. In a developing or under-developed nation, to meet his needs under Hobby, one should work extra. (over time, etc.), whereas the normal (minimum) working hours should be 8 hours per day. 

8. The various other services of the Bank are NOT touched herein. It is felt unnecessary now. At a different time, if it be required, if GOD wills, the Writer would write about them too.

**** The writer, P.K.M. Badsha enjoys Divine /Scientific authority to represent all people on Earth. To learn this statement to be true, kindly visit www.omsathyam.com .