Public-sector banks: No place to hide amid increasing stress - Moneylife

Public-sector banks: No place to hide amid increasing stress - Moneylife



My VIEW:



We should be prepared for several such doom-sayers, now that there is a conscious effort from RBI and GOI to bring some method in the madness of working of the banks in India. There is no point in arguing now that the overhaul and professionalization of public sector banks (PSBs) should have happened along with bank nationalisation and there should have been regular ‘health checks’ and ongoing corrections. 
Just as a ‘health check up’ does not change the condition of a person, the re-classification of more loans as NPAs does not alter a bank’s ability to change. The need of the hour is to support banks to recover their dues from borrowers who have the capacity to repay, infuse professionalism in the banks’ working and restore the faith in the banking system. As private sector banks have failed to perform their responsibilities and are not too willing to grow (their share in banking business is less than 30 per cent), privatising the existing public sector banks is no solution. Perhaps, GOI should consider nationalising entire banking business and restructuring the banks to serve public interest.

 M G Warrier

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