<b>Letters:</b> Banking sector woes

Borrowers who willfully defaulted on repayment of dues to banks are defeating recovery measures

With reference to “The audacity of hope” (March 13), the Bharatiya Janata Party’s astounding victories in Uttarakhand and UP point to the abundant faith of voters on the PM and his government. The electorate has great expectations. To fulfil those, governments at the states and the Centre have to quickly initiate reforms to ensure speedy economic growth and social development. Reforms in the financial sector, particularly banking, are yet to yield results. The banking sector is facing a crisis due to ever-increasing bad assets. The government and the regulators are proving incapable of controlling this. Two things are spiralling the