Letter to BS: Power firms are in dire straits on account of low recoveries

The depositors and investors, who are basically people who have put their hard-earned money, and pensioners who have put their savings in banks, mutual funds and LIC are not adequately protected

This refers to "How not to waste the NBFC crisis" (June 10). I agree with the writer about the inadvisability of directing banks to lend to NBFCs in difficulties. The whole system is weighed in favour of the borrowers. The depositors and investors, who are basically people who have put their hard-earned money, and pensioners who have put their life long savings in banks, mutual funds and LIC are not adequately protected. This applies to banks saddled with huge unpaid loans to defaulting corporates or power companies. Power companies are in dire straits on account of low recoveries and transmission