While the editorial, “Financing a recovery” (April 26) correctly raises the concerns involved in setting up of wholesale and long-term finance (WLTF) banks and rightly suggests the widening and deepening of bond markets for financing of infrastructure and other long gestation assets, the core issue that needs attention is that commercial banks (CB), including State Bank, have continuously failed in developing the capabilities and a culture of safe financing of the infra projects, leading to current almost insurmountable crisis of non-performing assets. One misses the expertise developed by previous term lending institutions in this context.
The promoters over years have taken
