Message from market to PNB, other PSBs: Bring in new credible leadership : We will support if the govt brings in credible leadership, changes the incentive structure, and fortifies the board, says markets February 27, 2018 Privatizing public sector Apropos Akash Prakash’s thought-provoking piece “PNB and the public sector banks” (Business Standard, February 27), let us concede that in India, since Nehruvian days, when ‘public sector’ commanded some respect, there has been a sponsored lobby out to annihilate public sector undertakings by any means available. We have witnessed the fall of institutions like UTI. Methods used included creating legal hurdles in parity in functional matters with the private sector, ensuring weaknesses in top management by interference in top-level appointments and HR issues using Government’s ownership rights and sometimes by allowing infiltration of people of doubtful integrity at higher levels. As regards banking in India, as th...