Public sector banks’ impaired assets stymieing overall economic growth - The Hindu

Public sector banks’ impaired assets stymieing overall economic growth - The Hindu

My VIEW:

December
7, 2015
PSU
banks’ impaired assets
This refers to the
article “Public sector banks’ impaired assets stymieing overall economic growth”
(The Hindu, December 7) by two US-based analysts. The excellent, studied analysis misses
entirely the Indian context and the role of public sector banks in the country’s
development. The private sector banks which always enjoyed a level playing
field vis a vis public sector banks in conduct of business, plus several
positives in selection of clientele and HR-related management decisions have
not improved their share in banking business which is hovering around 25 per
cent for sometime now. Mentioned this to flag the point that if banking sector
has to play any role in economic development, the nation is dependent on public
sector banks.
The hurling of
accusations on agricultural debt relief for the present state of affairs only
diverts attention from the main issue of ‘stressed’ management of PSU banks,
mainly on account of the lack of functional autonomy for these institutions and
the abuse of government-controlled organisations for political gains including
for pampering corporates. Remember, the 1990 Agricultural and Rural Debt Relief
Scheme implemented by GOI through RBI and NABARD did not leave the kind of
scars on the financial system which is now being discussed.
A sectoral analysis of
stressed assets on the books of public and private sector banks would have made
sense. RBI also, beyond finding fault with ‘extending and pretending’, guide
all banks to streamline their managements right from board room to field level
and infuse professionalism in conduct of business.
M
G Warrier, Mumbai  


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