Strengthen the backbone
The RBI has faltered in its regulatory role—the government must stand behind the tottering banking system.
It is rather irritatingly repetitive that borrowers are jumping their loans with banks. More so, these are large borrowers, who are themselves hugely rich and they are making their way conveniently away with the bank money. With details now emerging, it hints that the ultimate hit on the banking system could top Rs 20,000 crore. Maybe, even more.