......Whatever it is, RBI has to ensure that Banks do only banking business in a traditional manner ie;accepting deposits and lending of money.If any incentives are linked other than efficient customer service to these normal banking transactions, there is something seriously wrong and need to be nipped in the bud itself. Otherwise RBI will have to face an embarrassing situation.....................
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Ethics and what we considered as values are slowly disappearing from the scene. May be this is a passing phase, when many of us from the vanishing generation lament about the issue, and next generation will get adjusted to the realities. In financial sector where any deviation in practices gets quantified and surfaces for all to see. 20 per cent hike in remuneration to retain a layer of executives, changing focus to any other business than banking and the latest reward points for maintaining account with a bank are all symptoms of a deeper malignancy which the regulator and the owners of banks take cognizance the earlier, the better.
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