Greed . Inefficiency and Banks

Greed has overtaken the market and this reflects in the pricing of products and services. Charging for withdrawals through ATMs by banks adds one more component apart from greed ie pricing for their inefficiency in managing their portfolios particularly Advances and other assets like establishments. NPAs and expenditures to accommodate various obligations like the recent episode observed in the UCO bank to sponsor the Government projects at bank's cost are features commonly observed in almost all banks and they seldom get examined by any. Depositors are forced to bear the brunt and they have no means to fight the atrocities being committed by banks day in and day out. The depositors are paid a pittance of 4% on their SB balances and banks meet several expenditures unconnected with banks business to accommodate many. Auditors , regulators seldom examine the expenditures of banks and fix them for their irregularities. It is time depositors unite and fight for their genuine rights as banks are run with their funds and a run on banks is protected with the depositors' and tax payers' money. Charging for withdrawals through ATMs has no justification what so ever and it only shows banks' indifference and callousness to understand the depositors' plight and their own survival without depositors' support.  

Dr.T.V.Gopalakrishnan

Make PSUs contribute

The time is right for the Government to offer loss-making PSUs on lease to professionals from both domestic and international markets and make them contribute to the economy in a big way. Taxpayers’ money cannot be allowed to be drained through these white elephants and the investments made in the PSUs have to show returns in terms of employment, production, revenues and growth in GDP. The Government has the backing of the masses and it is committed to good governance and bringing in efficiency in the management of the economy.

TV Gopalakrishnan

(This letter appeared in BL dated 12/11/14).