Opinion - Letters to the Editor

Unbankable

Sir, — The suicide by the chairman of the Charminar Bank, Syed Alamdar Hussain Sajjad, has sent shock waves across the banking sector in Hyderabad. This is the third such case, in the last one year, of mismanagement in the co-operative banking sector after Krushi Bank and Sravya Bank. People in the State are fast losing faith in these banks. It is the State Government's responsibility to see that right persons are appointed to manage them. The Government and the RBI should follow correct guidelines for granting licences to the co-operative banks. If they provide proper support, then these banks will be successful in winning people's trust again.

Mani Nookala,

Hyderabad

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