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Blog / 11 Aug 2020

(Video) Rajya Sabha TV (RSTV) The Big Picture: Road Ahead for Public Sector Banks

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(Video) Rajya Sabha TV (RSTV) The Big Picture: Road Ahead for Public Sector Banks

Topic: Road Ahead for Public Sector Banks

Guest:

  • Aruna Sharma, (Member, Digitisation Committee, RBI)
  • Ajay Shankar, (Former Secretary, DIPP, Ministry of Commerce & Industry, GoI)
  • Subhomoy Bhattacharjee, (Consulting Editor, Business Standard)

Topic Description:

Of-late there is a lot of buzz about privatization of public sector banks. There have been several reports in the media about the future of central banks. Social media too is abuzz with several forwards doing the rounds asking people to be careful of their deposits. Such fears are mostly unfounded. Though there have been reports about possible privatization of banks in India, there have been no concrete announcements, apart from an indication from finance minister Nirmala Sitharaman in May. In a privatization scenario, the government will always retain a portion of the bank’s stake and as such will remain a shareholder. Whenever bulk withdrawal of deposits takes place, the government as a shareholder will step in to adequately capitalize the bank. Meanwhile, a RBI board member has said Public sector banks should not be privatised given the country's developmental needs but the government can look at reducing its shareholding to 26 per cent by selling a larger portion of its stake.

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Courtesy: RSTV