Letter to BS: Who wants public sector bank reforms, anyway?

This refers to “Who wants PSB reforms, anyway?” (March 5). Permit me to rephrase the question and answer it. Who is preventing a wholesale overhaul of public sector banks (PSB) to bring them on par with the best among the world-class commercial banks? They include the rich and the powerful who own and operate governments in India, mainstream media houses and private sector business who depend on laxity in the appraisal of loan proposals and recovery arrangements in PSBs. The pressure on the government to bring to books the people who swindled money is conspicuous by its absence. The effort is to divert attention to procedural lapses or shift the responsibility from one shoulder to the other. Why not build up a case for recovery from the borrowers, if necessary by changing laws?

M G Warrier  Mumbai

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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  ·  E-mail: letters@bsmail.in

All letters must have a postal address and telephone number