Financial Daily from THE HINDU group of publications
Friday, Jan 28, 2005
Financial Daily from THE HINDU group of publications Friday, Jan 28, 2005 |
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Opinion
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Letters Reform of banks
The quarterly results of two PSU banks — Syndicate Bank and UCO Bank — were out last week. UCO Bank showed an over 50 per cent decline in operational profit, and Syndicate Bank actually registered a net loss in the third quarter. There is no harm in keeping banks under government ownership. But managing a bank in a financially viable manner is certainly more important. On the marketing side, MNC and private banks are aggressive and give their staff incentives to get new lending and investment business, while PSU banks only seem to be becoming lethargic and risk-averse. The RBI and the Finance Ministry need to monitor them to make sure they generate growth rather just carry out statutory inspections and audits. Sushil Mehra Bangalore Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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