We all are abreast about the severe and widespread passenger disruption caused by recent mass cancellation of
@IndiGo6E flights. It implies a failure rooted in operational and managerial shortcomings and provides a powerful, real-time warning about the risks of over-reliance on concentrated private power in essential services.
When a dominant private player, even in compliance-related areas, suffers a systemic failure, the resulting crisis exposes a national vulnerability. This demonstrates that profit orientation in vitally important sectors often overshadows public service viz a viz national interest.
On similar backdrop, the implications for the banking sector are direct and critical. Just as a private airline's internal lapse can paralyze nationwide travel, the complete handover of the financial system to profit-driven entities through mass privatization poses a grave risk to economic stability and social equity. This is why Public Sector Banks (PSBs) are indispensable.
Unlike private entities, PSBs operate with an explicit mandate for social responsibility and national development, ensuring that they are answerable and accountable to nation.
The Indigo episode is a stark reminder that there is urgent need to vigorously protect and strengthen our Public Sector Banks being indispensable pillars for safeguarding the economic welfare of the common citizen and ensuring protection of the nation’s interest.
#Indigo