The bank employees demand for increased wages is genuine and banks can definitely afford. The profit is eaten away by bad debts craeted by the Government's ineffectiveness in ensuring that the projects take off on time and the assets do perform for banks. The loss on account off Bad debts has to be accounted for by the Government and the management and employees are not definitely not responsible for reduced profit.The loot by borrowers if given a full stop, banks will have sufficient profit. Like politicians anfd bureaucrats bank employees have no avenues to loot and majority depend on wages and after direct and indirect tax, they get a pittance and this also gets evaporated by inflatioon.Hope FM understands this.
Dr.T.V.Gopalakrishnan
(This comment is in response to the report that the FM does not want bank profit to be given as wages to bank employees in BS dated 10/2/12)
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