Don't treat all decisions as malicious: FM to probe agencies

Chidambarm was addressing Bancon 2013, a conference of the bankers and economists

In a message to the investigative authorities, Finance Minister P Chidambaram today asked them not to question all decisions as the business cannot survive if everything is treated as "motivated or malicious".

"No business can survive and person can take a decision if every decision is questioned as motivated or malicious," he said, while assuring the bankers that government will protect them for bonafide decisions keeping in view the prevailing facts and circumstances.

Some of these decisions in retrospect after lapse of few years may turn out to be poor decisions, he said, adding "but if authorities begin to question every decision and attribute a motive and attribute criminal intent and describe it as a crime, I think that would be most dangerous decision that authorities can take. I would strongly advise that is not the approach to adopt".

He said this while addressing Bancon 2013, a conference of the bankers and economists.

Prime Minister Manmohan Singh in his address to the Golden Jubilee celebrations of the Central Bureau of Investigation (CBI) earlier in the week had asked the investigative agency to tread cautiously on policy matters as "decisions which appear sensible ex-ante may ex-post turn out to be faulty" and also distinguish the errors of judgement from criminal acts.

Asking the bankers to take decisions on the basis of facts and circumstances, Chidambaram said, the government would protect them fully.

"As far a government is concerned, I assure you as long as you take decision based on facts and circumstances available to you at that time and do it at an appropriate level and an appropriate committee or an appropriate forum and exercise your best judgement, we will defend you", he said.