Letter to BS: Healthy banks are a barometer of a healthy economy

It is time there are reforms to ensure autonomy to the banks with proper checks and balances so that they play their assigned roles effectively and professionally.

This refers to the editorial “Reform PSBs” (February, 28). It is an open secret that for long, the public sector banks or the PSBs have been made to or even intimidated by some to finance such projects which they did not consider viable. In this game, in many cases, some black sheep in banks were also hand-in-glove in creating bad loans. Now such bad loans have reached such a stage where it has become a threat to the existence of the banks itself. It is time there are reforms to ensure autonomy to the banks with proper checks and balances