Opinion
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Letters to the Editor
Tirade against SBI
Sir, - This is with reference to the letter by Mr. N. Gopalan criticising the SBI management (Nov. 28). While his concern as an Indian for the bank paying a hefty fine to the American authorities for certain lapses is appreciated, it is unfortunate that he has utilised the opportunity to voice his wrong opinions about banking. Non- performing assets and bad debts are part of the bank's business. Mr. Gopalan's anger that these losses are debited to the poor depositor's accounts is unjustified, to say the least. The low percentage on deposits is under the RBI guidance and all the nationalised banks are bound by these guidelines.
As for his complaint about charging for the cheque book, I wish to clarify that 60 leaves are issued free of cost per year and charges are collected over and above that limit only. Cheque leaves are printed as security forms at the special security press at Nashik at a huge cost to the bank.
S.T. Rajagopalan, Chennai
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