SC: Not Ensuring Loan End-Use is Financial Irregularity, Exposes Banks to Risk

• Supreme Court states bankers hold a position of trust, dealing with public funds.
• Sanctioning loans beyond powers or not ensuring end-use constitutes financial irregularity, exposing banks to risk.
• Ensuring end-use secures recovery and prevents diversion of funds from sanctioned purposes.
• Dereliction of duty by bank employees, whether negligent or intentional, is misconduct.
• Disciplinary proceedings can continue post-superannuation if service rules permit, and punishment like pay scale reduction can impact pension.