PSU Banks are suffering NPAs because of influence peddling by Finance Ministry officials & politicians

image

As predicted by me foreign shills are peddling reports and op-eds claiming that NPAs can be eliminated if banks were privatized. It is as if private banks have not gone broke (GTB) or have no bad debts (ICICI, HDFC, Axis…). Even if some government banks are privatized the remaining banks will continue to be exploited by politicians and their influential friends.

The only solution is for government banks to be run by  bankers not bureaucrats. And independent board should take care of corporate governance and monitoring.

https://thewire.in/227427/to-push-for-privatisation-as-a-solution-to-the-pnb-scam-is-to-ignore-history-problems-of-private-banking/

Advertisements