With reference to “Union opposes govt demand to get extra surplus from RBI” (November 17), the move seems ill-conceived and unprecedented.
If the Centre manages to exert pressure on the Reserve Bank of India
to pay the proposed special dividend, it would be like robbing Peter to pay Paul as our “incorrigible” public sector banks continue to behave like errant boys. It’s strongly felt that no amount of such frequent financial “infusion” would magically resolve their alarming non-performing assets’ position, which has assumed menacing proportions.
The basic fault lies in banks, besides the usual government interference in their affairs. Perhaps it warrants some “surgical strike”-type treatment. How about their need-based mergers and ultimate privatisation
in the larger national interest, on the lines of the debt-ridden Air India?
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