"KING: 'GDP of India is around 4.5%
now. Scams and Corruptions are the thorns. NPAs are like headaches
for Banks. Even, the transformation of Black Money into White Money
through several Banks is an issue. The recent scandals of Chit Funds
have proved that the Banks and Financial Institutions are not so
strict on KYC norms.' HERMIT: 'Finance Ministry has to reduce
subsidies and increase taxes. Moreover, if you cannot merge several
Banks, then at least, merge all loss making branches.'"-Arindam
Sain
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