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Letters: Flight plan

Source : BUSINESS_STANDARD
Last Updated: Thu, Feb 14, 2013 22:11 hrs

This refers to the report “KFA’s collateral enough to cover dues, say banks” (February 14). It’s time of reckoning for banks that lent to Kingfisher Airlines regardless of risks. People who deposited their hard-earned savings in the banks and tiny shareholders will not be satisfied until the last rupee is recovered from the airline. Recall at this juncture the furious debates in Britain over how the functioning of big banks caused depositors losses. In India, bank CEOs, their boards and the financial services department – which was carved out of the department of economic affairs – are answerable for their commissions and omissions. It is hoped that young MPs, irrespective of their party affiliations, will raise this issue forcefully in Parliament.

 

S Subramanyan, Mumbai

 

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