Business Daily from THE HINDU group of publications
Friday, May 23, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, May 23, 2008 ePaper | Mobile/PDA Version | Audio |
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Opinion
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Letters A wise and timely retreat The State Bank of India’s circular on freezing of loans for the purchase of tractors and farm equipment and its subsequent withdrawal have rightly become the subject of debate. A bank of SBI’s size, stature and management capability would have surely taken such a decision based on available statistical facts and merits, but perhaps the timing and manner of its introduction was not appropriate and thus the ensuing furore. The decision to retract the circular is indeed good and wise. Whatever the level of NPAs in any sector or any geographical area, we need not penalise the entire sector. Only specific individual defaulters need to be identified and further lending stopped to them, not the entire sector. Inder Kilam Faridabad More Stories on : Letters | Farm credit | Public Sector Banks
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