A K Bhattacharya’s article, “The politics of tackling NPA” (March 29), is well-thought-out and admirable. It delves into the problem of tackling non-performing assets, stressed assets and various factors and hurdles in solving the issues, especially because of politics.
According to recent data, Indian banks have close to Rs 700,000 crore in bad loans. The good intentions of the Bharatiya Janata Party (BJP) government should be converted into policy to empower the Reserve Bank of India to act effectively as regulator. Also, banks should be able to act without fear against wilful defaulters and clean up stressed assets. The concept of bad bank has been a success in countries such as Spain and Indonesia. Thus, various options are available to tackle the issue.
The BJP government should not be wary of losing votes or becoming unpopular if its measures benefit the common man.
Partha Sarathi Mukhopadhyay | Nagpur
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