Letter to BS: Reinvent the financial sector, no use lamenting the past

The missing link is an HR initiative to ensure professionalism in the functioning of all the institutions

This refers to “Not home alone” by Anup Roy (July 17). The article has raised relevant questions on the duality of control over financial institutions including banks and non-banking financial corporations (NBFCs) at the ground level and answered them referring to the evolution of the regulatory and supervisory system in the financial sector over the years.
 
There is no use lamenting the omissions and commissions of the past. The FSLRC (Financial Sector Legislative Reforms Commission) took a tangential route trying to reinvent the central bank and truncate its functional limbs. The FSLRC failed to listen to professionals among its