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Letter to BS: FM's promise to bankers will make them work without fear

There is pressure on bankers to lend to spur the nation's GDP growth

Business Standard 

FM, sitharaman
Finance Minister Nirmala Sitharaman with Economic Affairs Secretary Atanu Chakraborty at the launch of projects, in New Delhi on Tuesday Photo: Dalip Kumar

This refers to Sukumar Mukhopadhyay’s letter “Fear exaggerated” (December 31). Agree, a small number of “slothful and corrupt fellows” exist in every organisation, including government departments. Officials of public sector banks can take any amount of “work pressure” and “transfer threats” in their stride, as occupational hazards. They are expected to lend, after gauging the borrowers’ intent, in addition to their capacity to repay. What, however, takes a heavy toll of their reserves is the extraneous pressure, which emboldens some borrowers to even go to the extent of assaulting them. And now, there is pressure on to lend to spur the nation’s GDP growth.

It is against this backdrop that the present finance minister’s assurance that “taking bonafide lending decisions will not be harassed by the investigating agencies” is to be welcomed. Hopefully, the assurances would lead to bank officials working without fear, or favour, the New Year onwards.

V Jayaraman Chennai

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First Published: Wed, January 01 2020. 22:13 IST