Niti Aayog VC pitches for governance reforms in banking sector
5 years, 3 months ago

Niti Aayog VC pitches for governance reforms in banking sector

India TV News  

Niti Aayog Vice Chairman Rajiv Kumar on Friday called for further reforms in banking sector after the recent recapitalisation and mergers, saying banks need autonomy and work at arm's length from the government. Speaking here at the India Economic Summit, Kumar also said the government must consider tapping capital markets and raise long- term funds for creating long-term assets through routes such as sovereign bonds and not only look at banking sector for financing infrastructure development. "I think that the next focus will have to be on governance reforms in a very major way, governance reforms in the banking sector particularly because that is needed," Kumar said. He, however, said the banking sector alone should not be expected to do the "heavy lifting" to provide funds to finance investments, specially in infrastructure sector, and the government must look at tapping capital markets.

India Banking Public Sector Capital Markets Capital Banks Look Kumar Niti Aayog Banking Sector Governance Reforms  look  need  niti  vc  capital  governance  infrastructure  public  sector  pitches  kumar  banks  banking  reforms  aayog

History of this topic

'Can’t let big biz into banking yet,' says banker Kundapur Vaman Kamath
3 weeks, 5 days ago

'Can’t let big biz into banking yet,' says banker Kundapur Vaman Kamath

New Indian Express  

MUMBAI: Kundapur Vaman Kamath, the veteran banker who led the rapid growth of ICICI Bank and helmed it for nearly two decades from its inception and make the largest private sector lender within few years, has spoken against allowing corporate houses into banking space, saying the regulator has to be satisfied that they will not misuse public deposits through the …

Congress: Any move to reduce govt stake in 12 public sector banks will be resisted
5 months, 3 weeks ago

Congress: Any move to reduce govt stake in 12 public sector banks will be resisted

The Hindu  

The Congress on July 19 said any move to bring down the Union government's stake in 12 public sector banks to less than 51 per cent would continue to be resisted forcefully both in Parliament and outside. Over the past seven years, there have been mergers in the public sector banking industry, Mr. Ramesh pointed out "United Bank of India …

Government may introduce amendments to laws to push banking sector reforms in Budget session
5 months, 4 weeks ago

Government may introduce amendments to laws to push banking sector reforms in Budget session

The Hindu  

The government is likely to introduce amendments to Banking Regulation Act 1949 and other laws to push banking sector reforms during the upcoming Budget session. Apart from this, amendments in the Banking Companies Act, 1970, and the Banking Companies Act, 1980 are needed for privatisation of public sector banks, sources said. Amendments, if approved by Parliament, would help bring down …

NDA govt must tackle unemployment problem, especially in the unorganised sector: Rajiv Kumar
7 months ago

NDA govt must tackle unemployment problem, especially in the unorganised sector: Rajiv Kumar

The Hindu  

Prime Minister Narendra Modi led-NDA government in its third term must tackle the problem of unemployment in India, especially in the unorganised sector and in small and medium enterprises, former NITI Aayog Vice Chairman Rajiv Kumar said on June 10. I think the most important reform that the Modi government must take is to tackle the unemployment problem, especially in …

India’s growing economy needs bigger banks
11 months ago

India’s growing economy needs bigger banks

Live Mint  

Finance minister Nirmala Sitharaman has said that India needs more banks the size of State Bank of India, or even larger. As our economy grows, lending capacity must expand and large lenders can lend larger sums without asset-concentration risk. In 2019, the government decided to merge at least 10 state-run banks to create four larger ones. Also expected was a …

India needs more SBI-sized banks, or three times larger: FM Nirmala Sitharaman
11 months ago

India needs more SBI-sized banks, or three times larger: FM Nirmala Sitharaman

Live Mint  

New Delhi: India needs more “SBI-size” banks to meet the growing needs of the economy and industry, particularly as the country aspires to grow to be the world’s third-largest economy, finance minister Nirmala Sitharaman said. In an interview with Mint, the finance minister said the country needs to create an atmosphere so larger overseas banks can enter India, and more …

ECONOMIC PERSPECTIVES | Neoliberal dilemma: Public sector banks turn a profit but privatisation not on cards for now
1 year, 7 months ago

ECONOMIC PERSPECTIVES | Neoliberal dilemma: Public sector banks turn a profit but privatisation not on cards for now

The Hindu  

Published : Jun 02, 2023 15:59 IST - 6 MINS READ The government’s economic spokespersons have been celebrating an ostensibly remarkable recovery in the country’s public banking sector. To ensure the solvency of and capital adequacy in banks, the government had to infuse Rs.3,10,997 crore into the public banking system from 2016-17 to 2020-21. Ever since the release of the …

Privatisation Of Banks To Go Forward As Per Schedule: Finance Minister Nirmala Sitharaman
1 year, 7 months ago

Privatisation Of Banks To Go Forward As Per Schedule: Finance Minister Nirmala Sitharaman

ABP News  

Union Finance Minister Nirmala Sitharaman on Monday said the privatisation of public sector banks will go ahead as planned. The minister, while addressing the media on the occasion of the Narendra Modi government completing nine years in power, in Mumbai said, "About the bank privatisation, they will go on as per schedule. "Other than IDBI Bank, we propose to take …

Inside Bank of Baroda’s silent transformation
1 year, 9 months ago

Inside Bank of Baroda’s silent transformation

Live Mint  

In the last week of September 2021, Mukund Rajan, the former chief ethics officer at the Tata Group, showed a bunch of Bank of Baroda executives a video clip from the 26/11 terror attacks in Mumbai. Led by Sanjiv Chadha, the bank’s current managing director and chief executive officer, the lender is on a mission to reinvent itself by adding …

ECONOMIC PERSPECTIVES | Is a reversal of bank nationalisation on the cards?
1 year, 11 months ago

ECONOMIC PERSPECTIVES | Is a reversal of bank nationalisation on the cards?

The Hindu  

Published : Jan 26, 2023 10:25 IST The semi-annual Financial Stability Report from the Reserve Bank of India signals that the country’s banking system, especially the public banking system, has put behind it the stress from disturbingly high non-performing or bad loans on its books. The asset quality review resulted in an increase in the volume of recorded gross NPAs …

Unfinished agenda: Long-standing debate on privatisation of state-run banks resurfaces
2 years, 4 months ago

Unfinished agenda: Long-standing debate on privatisation of state-run banks resurfaces

The Hindu  

Published : Sep 08, 2022 11:00 IST The long-standing debate on whether India’s public sector banks should be privatised has resurfaced in recent days. Referring to a core theme in the article by Gupta and Panagariya, the RBI researchers argued that while on pure profitability grounds private banks in India appear more efficient than public ones, public banks turn out …

Fact Check: No, the Centre is NOT privatising all public sector banks except SBI!
2 years, 4 months ago

Fact Check: No, the Centre is NOT privatising all public sector banks except SBI!

India Today  

Ever since Finance Minister Nirmala Sitharaman proposed to take up the privatisation of two public sector banks in her Budget speech for the fiscal year 2021-22, the issue has been widely debated. AFWA PROBE While investigating the claim, we found a report by The Times of India from July 12, according to which, a policy paper of the Indian Policy …

Advance Action Underway On Privatisation Of State-Run Banks, Says DFS Secretary
2 years, 7 months ago

Advance Action Underway On Privatisation Of State-Run Banks, Says DFS Secretary

ABP News  

New Delhi: Advance action is underway for privatisation of two public sector banks in pursuance of the announcement made by finance minister Nirmala Sitharaman, Department of Financial Services Secretary Sanjay Malhotra said on Monday. In the Union Budget for 2021-22, the government announced its intent to take up the privatisation of two PSBs in the year and approved a policy …

India needs 4-5 more banks like SBI: FM Nirmala Sitharaman
3 years, 3 months ago

India needs 4-5 more banks like SBI: FM Nirmala Sitharaman

The Hindu  

Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Sunday said India would need four or five more banks like the SBI to support economic growth. Exhorting the banking industry to imagine how banking has to be in the immediate and long-term future, she said, “If we look at post-COVID scenario, India’s banking contour will have to be very unique …

Bank Privatisation: Central Bank of India, Indian Overseas Bank May Be Privatized This Fiscal
3 years, 7 months ago

Bank Privatisation: Central Bank of India, Indian Overseas Bank May Be Privatized This Fiscal

News 18  

The Centre could privatise the two-state run banks — Central Bank of India and Indian Overseas Bank soon, according to report by Times of India. NITI Ayog, the government think-tank has recently submitted a report to the core group of secretaries on Disinvestment mentioning the names of the two banks the would be privatised this fiscal, news agency PTI mentioned. …

Amid bank strike, Nirmala Sitharaman says not all banks will be privatised
3 years, 9 months ago

Amid bank strike, Nirmala Sitharaman says not all banks will be privatised

India TV News  

Amid bank strike over the proposed privatisation of the public sector banks, Union Minister Nirmala Sitharaman on Tuesday said not all banks are going to be privatised adding the interests of the employees will be taken care of. "Even for those banks which are likely to be privatized, the privatized institutions too will continue to function after privatization; the interests …

Govt to amend two Acts to enable privatisation of PSU banks
3 years, 10 months ago

Govt to amend two Acts to enable privatisation of PSU banks

India TV News  

To facilitate privatisation of public sector banks, the government is likely to bring amendments to two legislations later this year. The ongoing Budget session is scheduled to take up as many as 38 Bills including the Finance Bill 2021, Supplementary Demands for Grants for 2020-21 and related Appropriation Bill, National Bank for Financing Infrastructure and Development Bill, 2021, and Cryptocurrency …

Govt to work with RBI for execution of bank privatisation plan: Nirmala Sitharaman
3 years, 11 months ago

Govt to work with RBI for execution of bank privatisation plan: Nirmala Sitharaman

India TV News  

Finance Minister Nirmala Sitharaman on Sunday said the government will work with the Reserve Bank for execution of the bank privatisation plan announced in the budget. Speaking to reporters in the financial capital, Sitharaman also said that the government has no plan to form any bank investment company to house the government stakes in banks. On the bad bank, Sitharaman …

Niti Aayog's Next List of Companies for Disinvestment in Few Weeks: Rajiv Kumar
3 years, 11 months ago

Niti Aayog's Next List of Companies for Disinvestment in Few Weeks: Rajiv Kumar

News 18  

Niti Aayog will prepare the next list of central public sector companies for disinvestment in the next few weeks, its Vice Chairman Rajiv Kumar said on Thursday and expressed hope that the proposed asset reconstruction and management companies to address banks’ bad loan woes will do a good job like the UTI. “Now the process has begun… We will complete …

Engaging With RBI on Privatisation of Govt-Run Banks in Big Way, Can't Have Laggards: Nirmala Sitharaman
3 years, 11 months ago

Engaging With RBI on Privatisation of Govt-Run Banks in Big Way, Can't Have Laggards: Nirmala Sitharaman

News 18  

Finance minister Nirmala Sitharaman on Monday told the News18 Network that the government had engaged with the Reserve Bank of India in a “big way” as she outlined a timeline for meeting divestment targets set in her Budget 2021 speech. Speaking to News18 Network’s Editor-in-Chief Rahul Joshi, the finance minister said that the country needs efficient banks for the economy …

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address
3 years, 11 months ago

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address

News 18  

With the Union Budget due to be presented on Monday, stakeholders in the banking sector expect the Centre to go beyond recapitalisation of bonds to infuse capital in public sector banks. The RBI’s stress test recently revealed that bank NPAs could jump from 7.5 per cent in September last year to 13.5 per cent by September this year. The gross …

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address
3 years, 11 months ago

New NPA Cycle, Privatisation Among Ailments in Banking that Union Budget 2021 is Expected to Address

News 18  

With the Union Budget less than a week away, stakeholders in the banking sector expect the Centre to go beyond recapitalisation of bonds to infuse capital in public sector banks. The RBI’s stress test recently revealed that bank NPAs could jump from 7.5 per cent in September last year to 13.5 per cent by September this year. The gross non-performing …

India considers creating bank with $13.7 billion equity capital to fund roads
4 years ago

India considers creating bank with $13.7 billion equity capital to fund roads

Hindustan Times  

India is considering a proposal to create a bank to help fund port, road and power projects as Prime Minister Narendra Modi’s administration aims to lift Asia’s third-largest economy out of the recession. India faces the challenge of boosting spending on productive assets that aid economic growth after being forced to direct the bulk of stimulus last year on the …

RBI panel proposes to raise promoters cap to 26% in private banks
4 years, 1 month ago

RBI panel proposes to raise promoters cap to 26% in private banks

The Hindu  

An internal working group set up by the RBI has proposed to raise the cap on promoters’ stake in private banks from the current 15 % to 26 % in 15 years. The group has also recommended that large corporate or industrial houses may be allowed as promoters of banks only after amendments to the Banking Regulation Act and strengthening …

'Privatise Select PSU Banks, Dilute Role of DFS': Raghuram Rajan Calls for Reforms
4 years, 3 months ago

'Privatise Select PSU Banks, Dilute Role of DFS': Raghuram Rajan Calls for Reforms

News 18  

Former RBI Governor Raghuram Rajan on Monday suggested the government to privatise select public sector banks, set up a bad bank to deal with NPAs and dilute the role of Department of Financial Services. “Winding down Department of Financial Services in the Ministry of Finance is essential, both as an affirmative signal of the intent to grant bank boards and …

Need to Divest Stakes in Public Sector Banks in Graceful Manner, Says RBI Ex-Deputy Governor Viral Acharya
4 years, 5 months ago

Need to Divest Stakes in Public Sector Banks in Graceful Manner, Says RBI Ex-Deputy Governor Viral Acharya

News 18  

Former RBI Deputy Governor Viral V Acharya on Friday cautioned against fire sale of state-owned lenders, saying that disinvestment should be undertaken in a graceful manner at the right price and also made a case for privatisation of some healthy public sector banks. Divestment beyond majority stake is the first step because it will help relax the fiscal constraint in …

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions
4 years, 10 months ago

Yes Bank crisis: Best practices needed as benchmark to govern banks; govt should consult with veteran bankers for solutions

Firstpost  

Recent days have seen RBI governor Shaktikanta Das pulling up public sector banks for poor credit growth even as Kapoor’s Yes Bank shenanigans were simmering in the backdrop. The current crisis in Yes Bank makes for great headlines, with a high-profile founder lending huge amounts to tainted and/or serial borrowers, allegations of political corruption and a general state of injustice …

Budget 2020: Banking sector is feeling the heat of economic slowdown; can Nirmala Sitharaman clear the mess?
4 years, 11 months ago

Budget 2020: Banking sector is feeling the heat of economic slowdown; can Nirmala Sitharaman clear the mess?

Firstpost  

If one analyses the third-quarter earnings of Indian banks reported numbers so far, two clear trends are visible. But, banks lending less to companies is a clear bad news to India’s struggling economy because when credit growth slows to companies, that impacts progress of projects, cash flows and employment generation and so on. In this context, Union Finance Minister Nirmala …

Union Budget 2020: Finance Minister Nirmala Sitharaman has her task cut out for crisis-ridden banking sector
5 years ago

Union Budget 2020: Finance Minister Nirmala Sitharaman has her task cut out for crisis-ridden banking sector

Firstpost  

Union Finance Minister Nirmala Sitharaman has her tasks cut for the Indian banking sector in the Union Budget 2020. The Budget is an opportunity for the finance minister to address some of the long-pending critical issues, beginning with addressing the massive capital requirement for the banks. Capital infusion Since coming to power in 2014, the Narendra Modi-government has pumped in …

Key policy steps taken by NDA govt this year to revive a sagging economy
5 years ago

Key policy steps taken by NDA govt this year to revive a sagging economy

Business Standard  

There is little doubt that the Indian economy is going through a rough patch, earning the government a great deal of flak. On August 23, she announced an upfront capital infusion of Rs 70,000 crore into public sector banks in a move aimed at generating additional lending capacity and liquidity in the financial system to the extent of Rs 5 …

Former RBI governor C Rangarajan says banks recapitalisation should be done through cash
5 years, 1 month ago

Former RBI governor C Rangarajan says banks recapitalisation should be done through cash

Firstpost  

Former RBI governor C Rangarajan on Friday suggested that recapitalisation of banks should be done through by infusing cash rather than issuing Bonds, as he cautioned that Boards of public sector undertakings, including banks, should maintain “arms length” from the Government Hyderabad: Former RBI governor C Rangarajan on Friday suggested that recapitalisation of banks should be done through by infusing …

Mega mergers fail to lure funds to state-run bank stocks
5 years, 3 months ago

Mega mergers fail to lure funds to state-run bank stocks

Live Mint  

Singapore: India’s biggest bank overhaul in decades to merge state-run lenders beset with bad loans and low capital hasn’t convinced investors to increase holdings of the shares. “State run banks do have a large asset-quality burden,” said Rukhshad Shroff, who oversees more than $660 million in India equities at JPMorgan Chase & Co.’s asset management unit in Hong Kong. There …

12 PSU banks almost right for India, says Finance Secretary
5 years, 4 months ago

12 PSU banks almost right for India, says Finance Secretary

Live Mint  

New Delhi: The amalgamation of 10 public sector banks into four has nearly ended the consolidation process and created almost the right number of banks to cater to the needs of the aspirational and new India, Finance Secretary Rajiv Kumar said This exercise will create six global size banks and will bring down the number of nationalised public sector banks …

Watch | Merger of public sector banks
5 years, 4 months ago

Watch | Merger of public sector banks

The Hindu  

In what comes as the second wave of the government’s efforts to revive the economy, Finance Minister Nirmala Sitharaman on Friday announced a slew of banking reform measures, including merger of 10 public sector banks into four entities. This would take the number of banks in the country from 27 in 2017 to 12, Ms. Sitharaman said. These bank mergers, …

Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar
5 years, 4 months ago

Public sector banks' merger to act as building block for $5 trillion economy target, says Finance Secretary Rajiv Kumar

Firstpost  

The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders New Delhi: The government’s decision to consolidate 10 public sector banks into four mega state-owned lenders will act as a building block for achieving $5 trillion economy target, Finance Secretary Rajiv Kumar has …

Bank employees stage protest against Centre's decision to merge PSU banks
5 years, 4 months ago

Bank employees stage protest against Centre's decision to merge PSU banks

India TV News  

Members of the All India Bank Employees' Association on Saturday staged a protest here against the Centre's decision to merge 10 public sector banks into four entities. Employees of all public and private sector banks wore black badges to work as a mark of protest to the government's decision. The BJP government at the Centre had on Friday unveiled a …

Nirmala's big bank reform: Will it boost the economy?
5 years, 4 months ago

Nirmala's big bank reform: Will it boost the economy?

India Today  

Four mega mergers of public sector banks, which control a two-third of India's banking in terms of advances and deposits, are meant to create a stepping stone to the government's $5 trillion GDP target. Experts suggest there should be a differentiation in terms of product category, say SME or emerging corporate focused banks or purely retail banks or large corporate …

Banks merger reflects govt resolve to address economic slowdown: India Inc
5 years, 4 months ago

Banks merger reflects govt resolve to address economic slowdown: India Inc

India TV News  

The government's move to consolidate public sector banks indicates its resolve to address the slowdown in GDP growth, as the country's economy expanded at its weakest pace in over six years in the April-June quarter of 2019-20, the industry said on Friday. A sharp deceleration in manufacturing output and subdued farm sector activity pulled down India's gross domestic product growth …

Merger can't tackle issues of low capital,higher NPAs:Analysts
5 years, 4 months ago

Merger can't tackle issues of low capital,higher NPAs:Analysts

India TV News  

Even though the mega-merger of 10 public sector banks is a step in the right direction as it will increase operational efficiencies of the merged entities, the key issues of low capital and higher bad loans will continue to plague them, say analysts. Amidst the growing signs of deepening slowdown, finance minister Nirmala Sitharaman Friday announced four new set of …

Govt unveils mega bank mergers to revive growth from 5-yr low
5 years, 4 months ago

Govt unveils mega bank mergers to revive growth from 5-yr low

India TV News  

The government on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders as it looks to boost economic growth from a five-year low. Finance Minister Nirmala Sitharaman, who had last week announced tax sops and measures for sectors such as auto, announced four new set …

Mega bank merger announcement: Govt to amalgamate 10 public sector banks into four large entities
5 years, 4 months ago

Mega bank merger announcement: Govt to amalgamate 10 public sector banks into four large entities

Firstpost  

After the bank merger, only 12 PSBs will be left in India from the 27 earlier After the announcement of the foreign direct investment, in a major reform measure, the Central government on Friday amalgamated 10 public sector banks into four entities, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders …

Govt announces sweeping governance reforms for PSU bank boards
5 years, 4 months ago

Govt announces sweeping governance reforms for PSU bank boards

Live Mint  

The government on Friday announced the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank of India to create the second-largest banking network in the country with 11,431 branches. "Punjab National Bank, Oriental Bank of Commerce and United Bank will be brought together and they shall form the second largest public sector bank with the business of …

10 public sector banks to be merged into four
5 years, 4 months ago

10 public sector banks to be merged into four

Live Mint  

Finance Minister Nirmala Sitharaman today announced a big consolidation of public sector banks: 10 public sector banks to be merged into four. In place of 27 public sector banks in 2017, now there will be 12 public sector banks after the latest round of consolidation of PSU banks. The government also announced capital infusion totalling over ₹55,000 crore into public …

Bank mergers aimed at economic growth | Highlights from Nirmala Sitharaman's briefing
5 years, 4 months ago

Bank mergers aimed at economic growth | Highlights from Nirmala Sitharaman's briefing

India TV News  

Finance Minister Nirmala Sitharaman Friday addressed a press conference Friday, wherein she announced the merger of public sector banks. Many of these fugitives we are trying to get back were encouraged during their time, says Sitharaman 04:58 pm: Non-official directors to perform role analogous to independent directors, says Finance Minister 04:57 pm: Bank boards given the flexibility to fix sitting …

Modi govt's mega bank merger drive: Now there will be only 12 PSU banks
5 years, 4 months ago

Modi govt's mega bank merger drive: Now there will be only 12 PSU banks

India Today  

In second set of major policy announcements to address economic concerns, Union Finance Minister Nirmala Sitharaman on Friday announced merger of six public sector banks with four better performing anchor banks. NEW PICTURE OF PSU BANKS 1) The after the Oriental Bank of Commerce and United Bank are merged into the Punjab National Bank, it will become India's second largest …

Public sector banks' shares jump up to 10% on Rs 70,000 cr capital infusion announcement
5 years, 4 months ago

Public sector banks' shares jump up to 10% on Rs 70,000 cr capital infusion announcement

Firstpost  

New Delhi: Shares of public sector banks on Monday zoomed up to 10 percent after the government announced upfront capital infusion of Rs 70,000 crore into them. The stock of Central Bank of India zoomed 10.08 percent, Allahabad Bank 8.33 percent, Bank of Maharashtra 5.98 percent, Bank of India climbed 3.96 percent, Union Bank of India 3.62 percent, State Bank …

Nationalisation of banks: Govt can continue to own banks, but management must be made professional
5 years, 5 months ago

Nationalisation of banks: Govt can continue to own banks, but management must be made professional

Firstpost  

Also, the PSBs have taken up technology quite well with core banking now virtually omnipresent. The nationalisation of banks was probably one of the boldest steps taken by the government in 1969 as the decision had many motives including bringing about balanced economic development and resolving the unemployment issue. Notwithstanding the fact that the PSBs today have the negatives of …

Govt, Reserve Bank of India must work closely to boost sagging growth engine, ensure systemic stability: Shaktikanta Das
5 years, 6 months ago

Govt, Reserve Bank of India must work closely to boost sagging growth engine, ensure systemic stability: Shaktikanta Das

Firstpost  

Das said there has been an improvement in the performance of the state-run lenders due to recapitalisation Mumbai: Governor Shaktikanta Das June 27 called for more cooperation between the government and the Reserve Bank to help boost the sagging growth engine and to ensure systemic stability. “Overall, the situation warrants greater cooperation internationally as well as monetary and fiscal coordination …

PSB recapitalisation: Why Narendra Modi govt must look at outright privatisation of state-run banks rather than experimenting with taxpayers' money
5 years, 6 months ago

PSB recapitalisation: Why Narendra Modi govt must look at outright privatisation of state-run banks rather than experimenting with taxpayers' money

Firstpost  

There are reports indicating that the Union Government is contemplating recapitalising the public sector banks with a capital of Rs 30,000 crores. Thus, to a layman, this situation should give rise to the question as to why then is the government continuously infusing taxpayers hard-earned money into the banking system. The government controls more than two-thirds of the banking assets …

Discover Related