Let the Banks Take Due Care

The RBI has done well to pull up Axis Bank, HDFC and ICICI Bank for violating KYC norms and anti-money laundering laws. The penalty imposed should be an eye-opener for other banks. But personal responsibility should have been fixed to recover at least some portion of the penalty from officers. If the violations continue, the government must take steps to nationalise these banks. 

- KV SEETHARAMAIAH, Hassan (ET)