Apropos the editorial, "Tip of the iceberg", the banking system needs to implement reforms, structurally and functionally, to improve its finances and operations and provide support to the economy.
That camouflaged bad debts are equal to or more than the disclosed bad debts can't be hidden anymore because of the recurring damages they bring to the economy. It is time to recognise and identify the overall weaknesses of banks due to the absence of a bond market or institution to finance long-term projects, the interference of politicians and bureaucrats in banking operations and a legal system that is not up to speed. A cover-up will only damage the health of banks further; this is definitely not in the interest of the economy, its financial system and the people.
T V Gopalakrishnan Bengaluru
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