This refers to K V Rao’s letter to the editor “New Banks” (December 25). The Banking Laws (Amendment) Bill will surely provide opportunities to set up new private banks in the country. In the earlier phase, when new private banks came on the scene, it was felt that the public sector bank business would dry up, and the new private banks would take over. That did not happen. In fact, the competition energised public sector banks to get their act together and advance in terms of technology and staff upgradation, designing and delivery of new products and services. It is in this context that the entry of more new banks – as a consequence of the latest amendments in the banking laws – will add to the competition and improve overall banking in the country. Public sector banks are here to stay and progress.
I K Kilam Faridabad
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201
All letters must have a postal address and telephone number
This refers to the editorial “An illustrious career” ( December 28). The house of Tatas is different from any other conglomerate in India, and both J ...
Analysts expect earnings surprises from consumer discretionary, financial and industrial sectors
Street worried on impact of lower oil prices; analysts say these can be partly offset by de-leveraging gains