Never in the History of Banking in India had any bank been saved by RBI by providing so much of credit 60K Crore of Rupees as happened reportedly in the case of Yes Bank. It is only collapse of Governance and ethics of Public Finance to say the least. No lesson or signal to bad borrowers who loot systematically all public financial institutions at the cost of all stake holders of the Economy. Sorry state of affairs.As long as such loots continue , the Economy in general and the Financial system in particular cannot be expected to show any improvement reflecting on the poor image of the Government and RBI nationally and internationally.
( This comment appeared in Business Standard against the write up on RBI Extends line of support to Yes Bank to the tune of Rs 60000K Crore. on 18/3/2020).
TVG Krishnan
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