The recent resignation of the Chairman of HDFC Bank citing concerns over practices not aligned with his personal values is not an isolated incident. It is symptomatic of a deeper malaise affecting both public and private institutions across the country.
Increasingly, institutions—whether in banking, corporate sectors, real estate, healthcare, or public administration—are falling short of their potential. Governance, accountability, and ethical standards appear to be eroding, often replaced by opacity, complacency, and profit-driven motives at the cost of public interest.
The banking system, in particular, raises troubling questions. Depositors, who are the backbone of financial stability, often end up subsidising defaulters. Real interest rates frequently fail to beat inflation, effectively eroding savings. Service standards—especially in public sector banks—remain suboptimal, while transparency in accounting is often compromised through practices like window dressing.
Corporate functioning too reflects similar concerns. Excessive costs, inefficiencies, and even luxuries are passed on to consumers through higher prices and service charges. Fraudulent practices involving well-placed individuals continue to surface, and mis-selling persists despite regulatory oversight, with little accountability.
The judicial system, though foundational to democracy, is burdened by delays that stretch over decades. Justice delayed not only weakens faith in institutions but often results in justice denied in substance, even if delivered in form.
Equally alarming is the state of public infrastructure and civic discipline. Roads are encroached upon, misused, and poorly maintained. Unauthorised activities, haphazard parking, unsafe traffic practices, and disregard for basic civic norms reflect a broader societal indifference to order and governance. These are not merely administrative failures—they are collective failures.
Healthcare, a sector expected to embody compassion, is increasingly perceived as commercialised. Patients often encounter administrative processes driven more by financial considerations than medical urgency. Reports of unnecessary tests, cost escalation linked to insurance coverage, and lack of empathy raise serious ethical concerns. The erosion of trust in this sector is particularly damaging, as it strikes at the core of human dignity and care.
What emerges is a pattern—an erosion of values across systems. Efficiency is compromised, accountability is diluted, and human sensitivity is often absent. The cumulative loss in productivity, time, and national resources is enormous and unsustainable.
The need of the hour is not incremental change but systemic reform. Administrative systems must be overhauled to improve efficiency, transparency, and accountability. Technology, including artificial intelligence, must be leveraged not as a buzzword but as a tool for real governance transformation. Equally important is a shift in mindset—from complacency and delay to urgency and responsibility.
Time is a critical national resource. Its misuse reflects not just inefficiency but a lack of respect for the nation’s potential. Optimising the use of human, financial, and natural resources is not optional—it is imperative.
The moment calls for introspection—not just by institutions, but by all stakeholders. Without decisive action, the gap between aspiration and reality will continue to widen.
TVG Krishnan
(personal views)
