Positive Signals

Media Response Positive signals This refers to the report "Banks' bad loans at 10-year low, resilient to shocks : RBI" (The Hindu Business Line, June 29). Looks, the worst is behind for the Indian financial sector. FY2022-23 saw the central bank also improving it's balance sheet, though not in a big way. This is one side of the story. Time is opportune to look at management of nation's resources in their entirety including government budgets and mobilization of funds by corporates. The banks which created a nationwide network after obtaining banking licences, have become lazy and are using various external arms as conduits for purveying credit. This results in leakages which affects the return on investment for the depositors. Similarly, central and state governments using statutory provisions to retain banks and financial institutions as compulsory buyers of G-Secs delays development of a retail market for government borrowings. Resultant low returns on such investments affect interest rates on bank deposits adversely. M G Warrier Mumbai

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