Much has been talked about foreign lobbies in context of #DataLocalisation, Lets meet one strong local lobby. (No, everyone knows iSpirt, lets shift focus elsewhere) - A lobby that has been alleged in carrying out illegal activity.

Ladies & Gentlement - Indian Banks Association

My interest in IBA started in tracking the RTI case. In Dec 2017, a full bench of CIC ruled Indian Banks' Association is public authority under RTI,
https://www.moneylife.in/article/indian-banks-association-is-public-authority-under-rti-rules-full-bench-of-cic/52268.html

Update IBA appealed against order in Delhi HC and got a stay with in 2 weeks (There is twist here wait)

I was curious if there was more and found a golden letter by one old punjabi(?) Manmohan Sidhu, Retired OBC pensioner. https://groups.google.com/d/msg/bankpensioner/o23yN1VA73Q/Iwhg3CFeCwAJ is an explosive letter and there are potentially multiple scams inside this. Lets start with basics.

IBA is not a registered entity

The management of Indian Banks Association (a non-legal entity, non-juridical person) comprises of MD & CEO’S of public and private sector Banks operating in India.

So this non-judicial person went to Delhi HC and got a stay!! But wait there is more golden stuff.

Apparently this has been going for a while. http://www.allbankingsolutions.com/Wage-Revision/IBA-Without-any-accountability-and-responsibility.htm This was S.Ramachandran Former GM - BOB RETIRED &SOCIAL WORKER ( Age – 77 yrs) writing to @arunjaitley in 2015.

https://groups.google.com/d/msg/bankpensioner/THqj7QD4KlE/uwtCuwxUBAAJ Manmohan uncle has more. IBA has invested in FIMMDA AND FEDAI in BENCHMARKS INDIA PVT holding shares.

Is it possible for a non entity to have a PAN, have so much funds in bank account without defeating KYC? I will request you to judge yourselves.

I am going to tag @suchetadalal @Moneylifers @dugalira to see if there is substance to report this and can this be called scam of century? End of Rant.

Lobbies are everywhere.