Elders urge for corporate reform to save banks from crisis
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Elders urge for corporate reform to save banks from crisis

Agency News

New Delhi, Mar 19: Elders on Thursday demanded reforms in corporate sectors to save banks from crisis in view of recent YES Bank catastrophe. Raising the issue during the Zero Hour in the Rajya Sabha, BJP lawmaker Vijay Goel said everyone is aware of the ongoing crisis of the YES Bank and the difficulties faced by its customers.

He also said similar situations have been seen in the ICICI Bank and Axis Bank in recent past. 'Taking these incidents into account, the Government must soon initiate corporate reforms, including the corporate governance of the Reserve Bank of India to save banks in future,' Mr Goel said.

The functioning of banks should be constantly monitored so that no such crisis arises in days to come, he further added. The BJP Member also mentioned that the Government has recently taken measures related to guaranteeing the security of the common man's money deposited in banks. Similarly, strong measures should also be taken for the companies and big depositors, he added. (UNI)

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