Letter to BS: Consolidation of PSBs can prevent PNB-like scams

The Banking Boards Bureau (BBB) must draw up a list of professionals of known competence who can represent the owner on the boards of PSBs as directors

This is with reference to “The buck stops here” (March 29). I agree with Mr Jaimani Bhagwati that with the passage of time the vigorous investigations into the alleged bank scams will get tangled in the legal quagmire. Public memory is short. Tax payers will foot the bill of the fraud losses and move on. It will take an enormously long time for the Punjab National Bank to even recover part of its losses. I also agree with the writer’s contention that were a big private bank to go under, the public and investor pressure would force the government to