'Banks need to change their lifestyle'

'Banks need to change their lifestyle': S.S. Mundra, Deputy Governor, Reserve Bank of India (RBI), has indicated that banks need to improve risk management and reduce large concentration of loans to a single borrower. He spoke to . Excerpts...

Rude analogy

This refers to the excerpts from the interview given to Manojit Saha by RBI deputy governor S S Mundra (The Hindu, Banks need to change their lifestyle, May 16). I wish, Indian Banks Association (IBA) and Indian Medical Association (IMA) seriously study the context and content of the rude comparison made and the terms used by Shri Mundra to make his point that the health of Indian Banking System is in bad shape.
Asset Quality Review as the three words indicate can at best be termed a diagnostic tool. The deputy governor says, ‘RBI termed the AQR a required surgery’. Words like ICU, patient, surgery, operation table, sick and doctor are used in the answers given by the deputy governor with ease. The Indian Banking System, thanks to the care with which GOI and the predecessors of Mundra nurtured it, is not yet in the precarious state of health as is now being made out by the critiques and media. Still, observations like those made in this interview by the top executive can impair the banking system, as the institution of banking is built on trust and the trust of the depositors is not easy to recoup, once shaken.

 M G Warrier, Thiruvananthapuram

Comments

Largeone said…
I appreciate this bold and cryptic comment. Yes, it pains to see how the a top official of the banking regulator applies superficial comparisons to represent a complex situation.
May 17, 2016 at 7:44 AM
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