With reference to the report, "Reforms plan fires PSU bank stocks" (August 18), Indradhanush, the seven-point plan for revamping public sector banks, is welcome. I am a product of the early 1990s' banking reforms - I shifted to then new banking entity UTI Bank (later renamed Axis Bank) in 1995. It has been an amazing journey working with Axis Bank for 20 years. Being part of its spiralling growth and progressive vision has been a pilgrimage for me.
Indradhanush is bound to benefit public sector and private sector banks and will soon gear them up for significant growth. The setting up of a bank boards bureau is in line with the recommendations of the P J Nayak Committee. Such a bureau will offer a well-organised shot towards governance of public sector banks.
N K Bakshi Ahmedabad
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