According to him to make these public sector banks more accountable with improved digital, risk management and other processes, the best way would be to privatise some banks.
He added, âIt would be good to not rely on so many public sector banks and hand over some into private hands and let them improve their digital, risk management and other processes.â
Explaining his view on private banks, Acharya said, âIt is not that private banks are perfect, they make their own mistakes too. But we have better ability to change management and alter the governance structure when it doesn t work in a private bank.â
Sell the best public sector banks; bids can be foreign February 7, 2021, 7:50 AM IST
Swaminathan S Anklesaria Aiyar is consulting editor of The Economic Times. He has frequently been a consultant to the World Bank and Asian Development Bank. A popular columnist and TV commentator, Swami has been called India s leading economic journalist by Stephen Cohen of the Brookings Institution. Swaminomics has been appearing as a weekly column in The Times of India since 1990. In 2008, The Times of India brought out the book The Benevolent Zookeepers - The Best Of Swaminomics . LESS. MORE
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