This refers to the editorial "Adverse selection" (November 14). The government's ownership of public sector banks has resulted in the misuse of its position and has wrecked the financial health of the banks. Even the previous Congress-led government at the Centre was no better and is, in fact, the author of state-ownership through two doses of bank nationalisation.
No majority stakeholder would like to see his or her investment in jeopardy due to its own interference. But the government at the Centre derived benefits by strengthening its position. Needless to say, the political power yielded much more dividend than its investment.
The views expressed in the editorial are well-merited and deserve to be considered. But the proposal can be experimented with and could be institutionalised after it yields good results.
K V Rao, Bengaluru
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