PSU Goliath wants government help in fighting private sector David

By Vijay Kumar

The Finance Minister often highlights the fact that the public sector banks are constantly out performed by their private sector counterparts. It seems the largest bank in India, SBI has written to the government to provide a level playing field to compete with the private banks. Look at these facts:-

· Unlike foreign and private sector banks which focus on up-market customers in large cities, SBI has been providing customer services-based on modern technology to the common citizen across the length and breadth of the country

· Though the cost of such services tend to be high, SBI has kept the minimum balance requirements low and affordable to the common customer

· for the PSBs, unlike private banks, most of the customers are in rural and semi-urban centres who prefer branch banking and customer services at branches

And on closer interaction, you will find that these hi-tech banks are not really all that efficient!