Only good governance | Business Line

Only good governance | Business Line

The Hindu Business Line, September 17, 2014
This refers to the report “Public sector banks should not be seen ‘as an extension of the Govt’ ”(September 16). The ‘ownership rights’ being exercised by the finance ministry over PSUs, including statutory bodies, in a negative manner has been an issue which impacts the good governance of all organisations in the public sector.
Mild protests by several stakeholders were ignored by successive governments. Even this well-argued case for PSUs to be provided a level playing field, comparable with well-managed private sector entities, may get diverted as an issue between the RBI and the Central Government.
The debate being opened by Raghuram Rajan should be taken forward in the national interest. Only good governance in the public sector can handle national priorities speedily enough to catch up with the developed world; the private sector has so far been interested only in the creamy layer of the development cake, concentrating mostly on industrial and services sectors. Private sector banks have so far not been able to capture even one-third of the business share or penetrate rural areas.
MG Warrier


Popular posts from this blog


The King of Ragas: Sankarabharanam