Needed: A retail borrowers' union to stop banks from cheating customers

As the RBI's Internal Committee report shows, both public and private sector banks have been cheating hapless customers

The government’s Rs 2.11 lakh crore recapitalisation of banks is a laudable effort. After all, several sections of the economy are being starved of cash as many banks are unable to lend due to their stressed balance sheets. 

The question: Who will benefit the most from this recapitalisation? Bankers believe that the small-and-medium scale enterprises (SME) will benefit the most as it will enhance their job-creating ability. 

It would seem that the NDA government, for the first time perhaps, is admitting that demonetisation did lead to job losses, especially in the SME sector.

There may also be an admission that