With reference to “Exit non-core biz to help conserve capital, FinMin tells banks’, ( Business Line, December 24), it is heartening that, even though belated, the Ministry has called upon PSBs to concentrate on core banking businesses and come out of non-core functions.
Of late, banks are engaged in ventures such as mutual funds, insurance, investment, equity broking, pension fund management, and so on, in partnership with private and foreign companies.
Bank customers are often lured into these schemes, without being educated about the risks involved. Cash incentives, foreign tours, promotions and pressure from higher-ups force bank officials to sell the non-bank products to the customers.
In many cases, customers have lost money. Banks reputation is at risk. Conserving capital without allowing leakage through these non-core banking operations will benefit the PSBs and its customers.
K. S. Krishna
Kochi
Liberal laws
This is with reference to “Rape is about power, not lust” ( Business Line , December 25). In a country like India, where a woman is raped every 20 minutes, the laws are probably too lax and liberal.
It is time the Government brings a strict law to tackle this crime and speedy court trial is one way to handle it. And we so called men of society need to introspect as to what we should do as questions have been raised time and again on our intent, behaviour and thinking.
Bal Govind
Noida