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By:

Bhalchandra Chorghade

11 August 2025 at 1:54:18 pm

Healing Beyond the Clinic

Dr Kirti Samudra “If you want to change the world, go home and love your family.” This thought by Mother Teresa finds reflection in the life of Panvel-based diabetologist Dr Kirti Samudra, who has spent decades caring not only for her family but also thousands of patients who see her as their guide. As we mark International Women’s Day, stories like hers remind us that women of substance often shape society quietly through compassion, resilience and dedication. Doctor, mother, homemaker,...

Healing Beyond the Clinic

Dr Kirti Samudra “If you want to change the world, go home and love your family.” This thought by Mother Teresa finds reflection in the life of Panvel-based diabetologist Dr Kirti Samudra, who has spent decades caring not only for her family but also thousands of patients who see her as their guide. As we mark International Women’s Day, stories like hers remind us that women of substance often shape society quietly through compassion, resilience and dedication. Doctor, mother, homemaker, mentor and philanthropist — Dr Samudra has balanced many roles with commitment. While she manages a busy medical practice, her deeper calling has always been service. For her, medicine is not merely a profession but a responsibility towards the people who depend on her guidance. Nagpur to Panvel Born and raised in Nagpur, Dr Samudra completed her medical education there before moving to Mumbai in search of better opportunities. The early years were challenging. With determination, she and her husband Girish Samudra, an entrepreneur involved in underwater pipeline projects, chose to build their life in Panvel. At a time when the town was still developing and healthcare awareness was limited, she decided to make it both her workplace and home. What began with modest resources gradually grew into a trusted medical practice built on long-standing relationships with patients. Fighting Diabetes Recognising the growing threat of diabetes, Dr Samudra dedicated her career to treating and educating patients about the disease. Over the years, she has registered nearly 30,000 patients from Panvel and nearby areas. Yet she believes treatment alone is not enough. “Diabetes is a lifelong disease. Medicines are important, but patient education is equally critical. If people understand the condition, they can manage it better and prevent complications,” she says. For more than 27 years, she has organised an Annual Patients’ Education Programme, offering diagnostic tests at concessional rates and sessions on lifestyle management. Family, Practice With her husband frequently travelling for business, much of the responsibility of raising their two children fell on Dr Samudra. Instead of expanding her practice aggressively, she kept it close to home and adjusted her OPD timings around her children’s schedules. “It was not easy,” she recalls, “but I wanted to fulfil my responsibilities as a mother while continuing to serve my patients.” Beyond Medicine Today, Dr Samudra also devotes time to social initiatives through the Bharat Vikas Parishad, where she serves as Regional Head. Her projects include  Plastic Mukta Vasundhara , which promotes reduced use of single-use plastic, and  Sainik Ho Tumchyasathi , an initiative that sends Diwali  faral  (snack hamper) to Indian soldiers posted at the borders. Last year alone, 15,000 boxes were sent to troops. Despite decades of service, she measures success not in wealth but in goodwill. “I may not have earned huge money,” she says, “but I have earned immense love and respect from my patients. That is something I will always be grateful for.”

The bold reforms to turn around PSBs

Updated: Oct 21, 2024

PSB

Last time, I analysed the status of PSBs when NDA took over the reins in 2014. The Government immediately initiated the bold reforms to turn around PSBs. The results surprised the financial and political circles as PSBs earned a record profit of Rs. 1.41 Lakh Crores in FY24 from massive losses of Rs 85,390 Crores. This doom-to-bloom story of PSBs was achieved through consistent efforts by the government during last 10 years.

Government initiatives to revive PSBs after 2014 The government implemented a comprehensive 4R strategy: Recognising NPAs transparently, Resolution and Recovery, Recapitalising PSBs, and Reforms in the financial ecosystem.


1. The first step was Recognising NPAs transparently by unearthing the NPAs hidden under the carpet by previous regime. The painstaking Asset Quality Review (AQR) Exercise was undertaken for this. The amount of Rs. 2.27 Lakh Crores shown as total Gross NPAs of PSBs on 31 st March 2014, ie 4.7 per cent of gross advances, became Rs. 5.4 Lakh Crores as on March 2016 Rs.8.95 Lakh Crore as on 31 st March 2018 after the Asset Quality Review Exercise unearthed the hidden NPAs. This shows that huge quanta of NPAs were buried under the Carpet.


2. A massive Resolution and Recovery initiative was undertaken. To strengthen this The Insolvency and Bankruptcy Code was (IBC) introduced on 28 th May 2016. It gave a clear legal framework for banks to recover large NPA amounts from defaulters and allowed eligible companies to close down bad businesses. The IBC, among different channels, is the key mechanism for banks to recover stressed assets. IBC accounted for the greatest recovery mechanism, as in 2022-23, 43 per cent of the total amount recovered was through IBC alone. These clean up measures started showing results; GNPAs of PSBs dropped to Rs.4.28 Lakh Crores ie 5 per cent of Gross Advances. The Gross NPA ratio reached a historical multi-year low of 2.8 per cent, with net NPA at 0.6 per cent of Gross Advances by March 2024. The stern measures were initiated to prevent defaulters from taking new loans to pay back old ones. Wilful defaulters were stopped from starting new businesses. They were not even allowed to raise money from stock markets. This prevented the repetition of the disaster by again creating new NPAs.


3. The third step was Strengthening of PSBs by infusing capital which is called as Recapitalisation. This builds confidence in the ability of these banks to stay afloat. As part of the strategy, the government infused an unprecedented amount of Rs 3,10,997 crore to recapitalise PSBs during 2016-17 to 2020-21. For this Rs 34,997 crore were sourced through budgetary allocation and Rs 2,76,000 crore through issuance of recapitalisation bonds.

The recapitalisation programme provided much-needed support to the PSBs and prevented the possibility of any default on their part.


4. All these measures started showing results. The total outstanding credit of PSBs has surged by over 90 per cent during last 10 years and reached to Rs. 87.55 lakh crore in FY24.


5. Simultaneously the Government initiated the Banking Sector reforms and addressed issues of credit discipline, ensured responsible lending and improved governance. Besides, there was the adoption of technology, and amalgamation of banks, and the general confidence of bankers was maintained. Banks Board Bureau (BBB) was established on April 1, 2016 as an autonomous body tasked to search and select appropriate persons for the Board of Public Sector Banks for professionalising their management and recommend measures to improve Corporate Governance. BBB was replaced by Financial Services Institution Bureau (FSIB) on July 1, 2022 with chairman and mandate remaining the same. However instead of lauding these remarkable achievements of Government, political critics are attributing a motive of government to privatize these PSBs by strengthening them. In the next article this aspect will be discussed.

(To be continued…)

(The writer is a Freelance Author and Speaker on Banking. Views personal.)

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