Letters: Element of accountability

This refers to the editorial "Non-performing managers" (August 26). While I fully agree with the views of Reserve Bank of India Deputy Governor K C Chakrabarty, the remedies suggested in the editorial would not prove to be of much help. Neither the tenure, the selection process, nor the pay packet per se are affecting the performance of managers in government-owned banks. But what is affecting their performance is the lack of accountability and the other ills mentioned by Chakrabarty. How many chairman and managing directors have been taken to task for quick mortality cases? Moreover, your suggestion that a substantial part of the pay should be linked with performance might prove to be counterproductive. What would define a performer? Many would be inclined to jack up the top line to show good growth even at the cost of asset quality. The remedy lies as rightly suggested in the editorial - in hands-off approach and accountability.

S V Bhise Vadodara

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