Slow pace of reform could lead to greater risk in banking system, says Rajan - Moneylife

Slow pace of reform could lead to greater risk in banking system, says Rajan - Moneylife

My VIEW:

RBI Governor’s view that “we should
recognise that PSBs undertake public interest activities (like the rollout of
accounts under the Pradhan Mantri Jan Dhan Yojana) that are not always fully
compensated. Government should endeavour to keep the competitive playing field
level by fully compensating banks for activities it wants undertaken in the
public interest." should be viewed in a wider context. The present
tendency is to burden public sector organisations including public sector banks,
LIC and Railways to share social sector responsibilities which are not always
remunerative and many a time loss-making, when their private sector
counterparts enjoy the profitable creamy layer of business. Government has a
temptation to milk public sector organisations dry without caring about their
intrinsic health.
M G Warrier

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