Can the BBB be successful in Improving health of PSU banks?
Can the BBB be successful in Improving health of PSU banks? I have great respect for learned and capable person Sri Vinod Rai who was CAG head a few years ago and who unearthed many high value scams and helped the country in exposing the evil workd of the then ruling party. Now he is given the responsibility to head Bank Board Bureau (BBB) and suggest was to contain bad debts, get rid of capital shortage in PSU banks, how to merge and consolidate PSU banks and also suggest good names for the post of chief of PSU banks. Problems faced by Banks are now new . Burden of stressed assets is heavy . NPA is not creation of a few months or few years but it is even older than a decade in many cases. Banks were caught in inflating profit five to six years ago when it was detected that in order to inflate profits, banks did not make adequate provision even for terminal benefits like pension payable to bank staff on their retirement. Culture of manipulation and fabrication is deep ...