Jaitley says Privatization Not Possible

It is a great pleasure that our Finance Minister Mr Jaitley has realized it that India is not ready for privatization of banks.

As a matter of fact the India needs stronger government banks to deal with national priorities and to ensure lending to them . Government has also  to perform  social welfare task   of the country.

Our country is still under developed country where 80 percent of population of do not have even enough money to cope with their basic needs. And those who are extra ordinary rich and affluent do not think for the society and leave entire social welfare work on the shoulder of the government.

There are many who have business skill but they do not get support from PSU banks whereas there are many ill- motivated business men who manage to get loan from PSU banks by resorting to unfair means to influence bankers and politicians.

I therefore feel and always say that government needs to stop and change the culture of flattery and bribery  prevalent in banks and in politics. I have been writing in this regard for ten years and more but unfortunately media as well as government  have almost turned blind eyes to all such suggestions coming from various corners.

Consolidation of banks mat give temporary relief but may not clean and cure the mind and heart of human resources who are at the helm of affairs and who are at the root of all problems which banks are facing now..

Banks are managed by only corrupt officers and ruled by mostly corrupt politicians. There is practically no place for honest performers either in banks or in government. Those who are expert in flattery and who can earn bribe for self as well as for higher bosses can only reach higher and top posts.

Government has to stop this bad culture and if they succeed in it even to some extent, they will never dream of privatization of PSU banks or health services or any sector. Fate of BSNL or Indian airlines or Railways or any PSU can improve only if we start giving value to merit and merit only . Yesmen have to be removed from the system because it is they who create demotivation in real performers.