Letter to BS: Modi regime keeps bankers on their toes

The government needs to professionalise the management and the board of PSBs to get optimum results

This refers to “Modi regime keeps bankers on their toes” (May 22), the support extended to the Reserve Bank of India (RBI) in the cleaning up of banks' balance sheets has been a noteworthy success of the government. However, after so many months only one of the 12 large accounts referred under the Insolvency and Bankruptcy Code (IBC) has seen resolution on account of procedural wrangles and multiple litigations. The process is slow and painful, and doesn't inspire hopes of a quick resolution for other cases to be subsequently referred under the IBC. Delays in resolution hold up a range