At the centre of this problem is the public sector banking network which accounts for 75 per cent of India’s banking assets. Public sector banks introduce two complications to the financial system. This can be done either through privatisation of existing public sector banks or through the granting of banking licenses to private operators. Lastly, things like failure to achieve policy targets or reticence in releasing data will attract rapid punishment by markets. Functions like monetary policy, banking supervision, data collection and dissemination, audit of government financial accounts, are all technical jobs.

Source: Indian Express October 11, 2019 19:07 UTC