What ails public sector banks?

Two books written by public sector bankers flag symptoms that range from seemingly small episodes to serious, reputation-ruining actions

Board members of PSU banks are by and large decent people, but “other than a few, they are not able to contribute much”. Some of them are “failed or aspiring politicians”

My schoolmate, a general manager (GM) in Uco Bank, retired in March. A series of farewell functions kept him busy during his last days in office, and even after retirement. Not every public sector banker is this lucky.

Take the case of S Aftab, who had retired as a GM of Union Bank of India  a few years back. In his book, A Banker’s Musings: Trials and Triumphs, Aftab writes that