Letter to BS: Buck passing between RBI and MoF on public sector banks

The earlier India understood the spirit of the concerns expressed by Dr Urjit Patel in his speech

This refers to “PSBs: Buck passing between RBI and MoF” by Debashis Basu (March 19). The buck stops at the doors of “we the people”. The concluding paragraph of the article points to the absence of pressure on those who have power and responsibility to prevent corrupt and unethical practices in governance, to exercise the power with responsibility and without fear or favor. 

The Reserve Bank of India (RBI) Governor in his March 14 speech accepted the responsibility and assured action to overhaul the system. On different occasions, the previous RBI governors have aired discomfort about dual control of the