Banking sector reforms

Big hoax: This refers to ‘No jobs, no skills: What a sorry state’ by Rajani Sinha and Nitika Bawa (February 16). No doubt skill development of is one way of creating jobs but the number of jobs available is abysmally low...

Banking sector reforms
This refers to ‘Big bank theory: Merger of SBI, associates cleared’ (February 16). While the move is welcome, the sporadic approach to financial sector reforms is not. The Financial Sector Reforms Committee had visualised a structure for the banking system with “three or four large banks that could become international in character; eight to ten banks with a network of branches throughout the country engaged in ‘universal banking’; local banks whose operation would be generally confined to a specific region and rural banks (including RRBs) whose operations would be confined to the rural areas and whose business would be predominantly engaged in financing of agriculture and allied activities”. This is an idea whose time has come.
MG Warrier
Mumbai

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