A half-hearted attempt

Banks Board Bureau has been made irrelevant

Business Standard Editorial Comment 

Even though India’s public sector banks, or PSBs, continue to dominate the banking sector, they have been going through a severe bad loans crisis caused primarily by poor governance. The government has taken some steps towards reform, including the formation of a Banks Board Bureau headed by former Comptroller & Auditor General Vinod Rai. The Bureau was entrusted with the task of choosing the top leadership of PSBs and improving governance norms. As such, it would, if properly empowered, have been an important step towards increasing PSBs’ independence and raising their level ...

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First Published: Tue, September 05 2017. 22:44 IST