The fraudsters are enjoying money they have taken away from the lenders. Meanwhile, the blame game is on between banks and the regulator. The recovery of the amount in the frauds is slowly fading. Privatising the nationalised banks, irrespective of test case or otherwise, is not the panacea to the ills that are destroying the financial health and soundness of these banks. It is essential to target the inefficiency of the human capital, the weak or vulnerable systems, rejig the set-up, make regulation and supervision effective and purposeful, and execute proper economic reforms to keep away stresses in the various segments of the economy. A holistic pragmatic solution is the urgent need of the hour.
VSK Pillai, Kottayam
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