Letter to BS: PSB lending should be meaningful to prevent capital wastage

Public sector banks have to adopt new technologies and security measures to project a better image and make themselves less vulnerable and globally competitive

This refers to “Time running out for PSBs” (December 27). It is true that private banks have a stronger capital base and less of non-performing assets (NPA) in contrast to public sector banks. The former also laid emphasis on customer satisfaction and service quality to attract and shore up business unlike the lackadaisical approach of many public sector banks. Nevertheless, the significance of public sector banks cannot be overlooked. What is required is meaningful -- and not merely target-oriented lending -- to improve asset quality and prevent capital wastage.

Stricter systems and procedures are essential to regain customer confidence after