PSU banks must act swiftly to deal with NPAs

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Where there is a will there is a way and Bank of India must be complimented in their efforts in recovering Rs 7,000 crores of NPAs at a time when other PSU banks are reporting more and more NPAs and bad loans. The Bank is also on the verge of recovering another Rs 3,000 crores and other banks including Punjab National Bank should take a leaf out of their books. Each penny given on loan can be recovered as they are lent against security. Corruption rules roost in our country and frauds basically are intentional actions done to wipe out public money. Strict laws and an eye on corrupt bank employees would check most bank frauds in future. Every paisa of loan given can be traced if the onus of accountability is put on top brass of banks!

(The views expressed by the author in the article are his/her own.)