Date:12/04/2006 URL: http://www.thehindubusinessline.com/2006/04/12/stories/2006041200281000.htm

Back Private sector banks

This is with reference to the article `Is it the end of the road for community-based banking?' (Business Line, April 6). The Government is going at break-neck speed in allowing foreign banks to take over the financial sector.

The FII limit in HDFC Bank and ICICI Bank is high and foreigners are seeking permission for taking over private sector banks before 2009. The new generation private and foreign banks are conducting faceless banking.

Another issue is some of the new generation private banks are not using the words `Ltd' after their names. They are registered under the Companies Act and are bound to use `Ltd'. Not using `Ltd' would give the impression that they are government banks. How is that this issue is not being given due attention? ,

K. Narayanan

Chennai

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