The dominance of public sector banks was supposed to have lent the Indian financial sector unique stability in an unstable world. The starting point should be reviving the proposal tabled in Parliament by the Atal Bihari Vajpayee government to bring down government holding in public sector banks to 33%. And most public sector banks trade at discounts to book value, so the government will in all probability come under attack for selling at low prices. Such privatization by stealth needs to be promoted even as the bigger battle for public sector bank privatization is fought. Will the Narendra Modi government move on the privatization of public sector banks?

Source: Mint May 02, 2017 20:26 UTC