WELCOME EXERCISE

Source: The Hitavada      Date: 28 Jun 2018 12:38:02


 

 

 

 

 

 

 

 

THE move of Parliamentary Standing Committee on Finance to seek presentations from eleven public sector banks (PSBs) on the current situation in the banking sector, is a welcome exercise given the delicate financial condition of public sector banks. There has always been the demand to give autonomy to public sector commercial banks. However, the current stressed health of public sector banks automatically rules this out. On the contrary, there is greater need for Government support to the stressed banks and infuse finance to resume their lending activity. This is the necessity for supporting and reviving investment climate. During their presentations bank officials assured parliamentarians that they would be able to overcome the current stressed conditions within two years and come out of Reserve Bank of India’s Prompt Corrective Action (PCA). Thus for atleast two more years the PSBs would be in need of Government support. It is important that the PSBs resume their lending operations as the country’s economy is on the verge of revival with a healthy GDP growth.

STAY ALERT

THE first and foremost priority for the Central Government and the Armed Forces in the wake of the breaking of political alliance between Bharatiya Janata Party (BJP) and People’s Democratic Party (PDP) in Jammu & Kashmir is ensuring smooth conduct of annual pilgrimage to the Amarnath cave shrine. The situation on ground and escalation in counter-insurgency operations by the Indian Army can result in the Amarnath pilgrims being made soft targets. Though Hizbul Mujahideen commander Riyaz Naikoo has asserted that Amarnath Yatra pilgrims were not their targets, such hollow utterances hold no truth. Such assurances cannot be taken on their face value, for, the same militant organisations were responsible for bloodshed in the Valley even during the holy month of Ramzan. Even in the past, civilians and pilgrims have fallen victim to militants, whose committment to religious tenets is questionable. Words of peace by terrorists means zilch. Vigil of the highest standard by Army as well as State Police is imperative during the Amarnath Yatra.