Condition of PSU Banks Appears Uncurable

Whatsoever Sri Arun Jaitley Finance Minister  may do or or promise or claim to do to deal with bad loans of Public Sector  banks but it is not easy for him to stop rising trend  in bad debts of these banks as long as he is able to understand the root causes of it. He will have to change the culture of bankers and politicians from grass root level and from core of their heart and mind which is a Himalayan task for him to perform.

Let us wish best for him, for common men ,for bank customers, for investors and for taxpayers. They will have to bear the brunt of mismanagemnt of PSU banks for decades to come . There is no way out visible to me keeping in view the attitude, approach and action taken so far.

Only bearer knows where the shoe pinches. The person who has worked in PSU bank for decades knows the ground reality of processes applied for sanction of a loan or for promoting a bank staff. At least I can visualise the dark days of banks looming large.

Unless and until , government is able to stop culture of flattery and bribery at all levels in bank as also in administration, judiciary and government in general, one should not imagine of any reformation in bank and any reduction in actual volume of bad debts.

Bank Officers in general work for pleasure of their bosses and politicians in general act keeping in view vote bank. None of them are actually interested in upkeeping and health of banks. They are master is preaching sermons and also in  delivery  of good lecture to mislead and misguide common men. I am not master in speaking or writing as they are  but I can understand the quality of  deep rooted  evil culture in banks as well as in politics which has turned cancerous.

Bankers and politicians are in general  looters of bank , they do so in their style and they cannot change their habit so easily. Mr. Manmohan Singh PM during UPA government and Mr. P Chidambram FM during UPA government damaged banking culture from the root and exploited it to maximum possible extent to serve their self interest and to serve their political interest.

Our PM Mr Modi is still unaware of bitter truth of what happened during last ten yars of UPA rule and how much damage they caused to entire system. He is not aware how Chiefs of banks are cheating entire system . He is being misguided by Chiefs of banks. Even Vinod Rai will fail in his endeavour to transform and reform bank because he will also take years in understanding the intricacies of functioning of PSU banks and the corruption led processes of recruitment and promotion and that of lending decisions which spoilt entire culture of human workforce.

UPA government spent ten years in making promises to cure health of banks. Every quarter after publication of quarterly results of PSU banks, Chiefs of banks and Finance Minister of that period used to claim that health of bank will improve from forthcoming quarters. It never came true. Media men too are guided by mischievous statements made by these clever politicians and bank's top officials sitting at the helm of affairs.


And I have no doubt that Mr. Narendra Modi , the present Prime Minister and the government  will  fail to a great extent so far as containing and controlling menace of Non Perfroming assts (Bad debts ) in PSU banks is concerned.  . However I salute him and his team for making best possible , sincere  and honest efforts to improve health as per their views and approaches. Let us hope for the best.

I may say in brief , that codition of PSU banks was far better before the reformation era started in the year 1991. In the name of maximum freedom and autonomy to banks,  government has shut its eyes and allowed large scale loot without an brake and  without taking any punitive action against erring officials and politicians. The most painful is that governmnt is still of the mind of giving more freedom to management of banks. It means they are inviting greater damage to  present health condition of  PSU banks.

To add fuel to fire, private banks are breaking all past records of misusing public fund kept with them by common men in quest of better services.  Only God can save us from disaster.

God bless him.