Why two licences is all that we could have expected4 min read 09 Apr 2014, 02:20 PM IST
The process of issuing new banking licences could have been handled with greater clarity and transparency
So the banking licence affair was a damp squib, we are told. Or else why should there be three years of nail-biting suspense and only two licences? One acquaintance even recalled the comment of a senior diplomat about India’s foreign policy to which he likened the bank licencing drama—“like the lovemaking of an elephant: it is conducted at a very high level, accompanied by much bellowing, and the results are not known for two years" (quoted by Shashi Tharoor in Pax Indica).
Select your Category