The crisis in public sector banks is the result of many factors. The finance minister has rightly stressed the role of auditors, regulators, bank managements themselves, and, of course, businessmen.
What is missing in this list is the government itself, which is the primary shareholder in these banks, as well as the authority that appoints and dismisses bank managements. Public sector banks therefore have a dual regulatory structure, coming as they do under the supervision of the government (specifically the department of financial services in the finance ministry) and the Reserve Bank in ...
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First Published: Mon, February 26 2018. 05:55 IST
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