It is welcome news (?Govt fiat to bulk up PSBs?, Feb 8) that the Ministry of Finance has directed all government ministries and departments to park a minimum of 60% of their funds under their control with public sector banks (PSBs). The advent of new generation private banks has seen PSBs losing market share to their younger cousins due to the absence of a level playing field. PSBs have always played a pivotal role in India?s socio-economic development. Unquestionably, they have a special importance in the banking industry. It is, therefore, natural that at least government ministries and departments conduct their business through them. More funds would help PSBs direct the money to more productive purposes. Equally important is the directive issued to public sector undertakings (PSUs) to refrain from making competitive bids for bulk deposits with banks, which could result in the unnecessary jacking up of deposit rates. The move would do a world of good for PSBs.
?Srinivasan Umashankar, Nagpur
Loss of a Gandhian
With Baba Amte?s demise, we have lost one more genuine social worker inspired by the thoughts and deeds of Mahatma Gandhi and Vinoba Bhave. Though a lawyer by profession in his early days, Amte was not interested in joining politics to ?serve? the people like some of the present political ?leaders? and parties. He did exemplary work without mouthing platitudes. May his holy soul rest in eternalpeace.
?Hansraj Bhat, Mumbai
