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Bank VRS

A. Jacob Sahayam, Karigiri

The editorial `Bank VRS' (Business Line, September 5) pointed out that since all banks compete in the same market, the public sector banks (PSBs) needed to rationalise their workforce for more profitable operations, restructure to improve servicing and r educe NPAs.

In PSBs, despite computerised operations, service is delayed and there is no change in the staff's attitude. Frequent strike threats from employees have earned them a bad name. At the same time, foreign banks with their good performance and better servic ing facilities have earned the people's goodwill and become popular. Contrary to the general misconception, they are prepared to open branches or extension counters in remote areas too. For instance, a foreign bank has opened an extension counter in the Leprosy Relief Hospital campus in Karigiri -- a facility no PSB was willing to extend. PSBs must rise to the occasion, else they will enter a vicious circle.