Savers’ concerns

Savers’ concerns: This refers to ‘Institutional credit to rural sector must get more attention: President’ (August 24). The Rajan era saw RBI asserting that it was its objective to bring all institutions doing banking business within its ambit...

Savers' concerns
This refers to ‘Institutional credit to rural sector must get more attention: President’ (August 24). The Rajan era saw RBI asserting that it was its objective to bring all institutions doing banking business within its regulatory and supervisory ambit. It is another matter that if Rajan had explained his objective transparently, the conversion of some NBFCs as banks or the setting up of postal banks would not have seen the light of the day.
The unfinished agenda in streamlining processes in banks and institution building is huge. This is in addition to matters such as rural credit management and revamping of banking channels (cooperatives and RRBs) in the rural sector.
By drawing attention to the trust savers repose in banks, the President was voicing the concerns of millions of middle class citizens who provide resources for the banking business. To restore the common man’s faith in the banking system, measures such as improving recovery of loans, reducing costs in management of funds and ensuring that the workforce remain secure and satisfied are all important.
MG Warrier
Mumbai

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