Let him act like the clever archers who, designing to hit the mark which yet appears too far distant, and knowing the limits to which the strength of their bow attains, take aim much higher than the mark, not to reach by their strength or arrow to so great a height, but to be able with the aid of so high an aim to hit the mark they wish to reach.” [Machiavelli, The Prince, translated by W. K. Marriott (1908), Chapter 6] We have decided to commemorate Tommaso by taking his ideas as a starting point to discuss some of the burning economic issues of today’s real world, an approach, I believe, he would have appreciated.
When the banking regulator speaks to bank management graduates in today’s scenario, it cannot but be on the resolution of stressed assets, because we have to get over with this problem soon, so that our banking system dominated by Public Sector Banks (PSBs) can attain a sustainable growth path in near future.