Letter to BS: Hope we learn from the past and see a new era in banking

Under govt schemes banks were used only for the disbursement of the loans and village-level corruption was endemic

This refers to “Bravo FM, but it’s only half the job done’’ by Tamal Bandyopadhyay (September 9). The article has made a case for freeing up public sector banks from the tradition of directed lending. Examples of government sponsored schemes that failed to kick start the rural economy were enumerated. It should be noted schemes like IRDP, SEEUY, SEPUP were well thought-out and aimed to provide employment opportunities to families and educated youths. If these schemes were implemented in letter and spirit, we would have had a different story to tell. The failure of these schemes was in their implementation