The government will not bring down its ownership in public banks.
RBI says haste in easing norms for banks harmful to economy.
In the policy banks, the government can have 100 per cent stake, McKinsey said.
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
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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.
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.
RBI has cited at least 10 areas where it has no control over PSBs.
The government has provided a long-term vision.
A Bank Investment Company to act as a holding company for state-owned banks would go a long way in minimising government interference and improving governance.
The Governor, who completes one year in RBI on Wednesday, has stabilised the rupee and is getting a fix on inflation.
Summary of sports events and persons who made news on Monday
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
"I am an academic and I have always made it clear that my ultimate home is in the realm of ideas," Rajan said in a letter to staff.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
Many from this small lender have made it to other bank boards over the past 5 years
'What we have is the bill and the Act passed by Parliament.' 'And then there is a criterion of exclusion as to who will not be covered in EWS.' 'Beyond that, we have no clue where this idea came from.' 'And most importantly, why is it 10% reservation, and say why not 15% or 20%?'
Most expect the Budget to be path-breaking.
We still have time for this government to take action.
In an interview with Business Standard, Arundhati Bhattacharya says she expects stalled projects coming back on track in two quarters.
We need a change in mindset, says the RBI Governor.
Recent statistics show that the situation is no different across the country with several hospitals lacking the infrastructure to manage a breakout of a blaze.
The Enforcement Directorate has managed to sniff out over Rs 9,000 crore as suspected haul from money laundering in a decade, but it has yet to link those against anyone successfully in a court.
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