Dear Editor,
The rise in the non-performing assets of both public and private sector banks is due to bad banking policies which include excessive autonomy to the bank top brass in sanctioning monstrous sums to corporatessans adequate safety measures, which compromises the inexorable security norms of the banks.
Besides, the tendency of the Union Government and various State Governments to declare sundry debt-relief schemes for political benefits, while shirking the advice of the Central Bank, is also responsible for this catastrophe. A revamp of our entire banking policy is necessary to protect our banks from such disastrous situations.
Shiv Kumar
Jammu