With reference to the report, "Why RBI's rate cuts have failed to move banks" (September 8), never before have public sector banks found themselves so delicately placed as they are now. Never before was devising policies so difficult and frequent as much as it is now. Yet the way the banking regulator, Reserve Bank of India, responded to the call of keeping the banks afloat even as there were disturbing developments in some Western countries, is a big achievement.
The paradox is that although this is an era of growing uncertainties, it also offers greater opportunities to explore new horizons for business expansion and accretions.
How well we manage the situation with the available tools is up to us - the one who does it better will be the winner.
Srinivasan Umashankar, Nagpur
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