13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
Instructions were issued on holding loan camps in the last week of September.
The NPA of the public sector banks rose to 6.03% as of June 2015.
The problem of stressed assets needs to be addressed with effective recovery.
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At the retreat, PSBs had suggested the government cut its stake in these entities to less than 51 per cent over a period of time and empower the boards of individual banks.
Many from this small lender have made it to other bank boards over the past 5 years
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
The government has provided a long-term vision.
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