Silence over the Loot of PSU Banks - Moneylife

Silence over the Loot of PSU Banks - Moneylife

Front page lead story in one of the financial newspapers had this caption
today(March 19): “Deficit worry? Banks told to remit TDS by month-end”…The story begins
with this introductory: Move comes on heals of FinMin request to banks for a
minimum dividend of Rs6,803 cr”

Realities can be much more startling. The health of public sector banks
has a direct relationship with the owner’s approach to their management. This
is not to defend the regulator or to argue that we should ‘let go’ the goings
on in cases like the fast deteriorating condition of the United Bank of India. The
purpose is just to point out that RBI is also staring at an adamant finance
ministry which has no worry about the strength of public sector organisations.

 M G Warrier



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