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The suggestion of Dr C. Rangarajan, Chairman, Economic Advisory Council to the Prime Minister, that the government must pump more into PSBs or trim stake is welcome. To take advantage of numerous business opportunities in the rapidly growing economy, public sector banks obviously require an expanded capital base. In view of this, the stance of the government needs greater clarity.

The announcement of the SBI Chairman that the bank plans to raise Rs 10,000 crore by December through a follow-on public issue or rights issue, though long over-due, should act as a trend-setter to other PSBs.

M.V.Nagavender Rao Grand Ledge, US

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