In the first two years, we spent Rs 15,000 crore, which was more than our target, says S K Chaturvedi, CMD, Power Grid Corp.
A panel headed by RBI Governor selects PSU bank chiefs.
His statement assumes significance in the light of scams in the state-owned banks.
Admitting that there are governance issues in the public sector banks, RBI Governor Raghuram Rajan underlined the need for improving transparency in sanction of loans.
For the first time, PSU banks will have a non-executive chairman, giving operational responsibility to managing director and chief executive officer.
The posts of Chairman and MD in the private sector are held separately.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
There were about 290 bandhs, blockades called by numerous organisations during fiscal 2012-13.
The officers did not arrest Neeraj Singhal despite CBI Director Ranjit Sinha's orders.
The government's step to curtail fiscal deficit is helping the central bank's monetary policy, Rajan said.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
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