The public sector banks' bad assets have been zooming for quite some time and the growing incidents of fraud added to their woes
The votaries of private banks so far have been enjoying a voyeuristic pleasure watching some of India’s public sector banks (PSBs) being stripped naked. The PSBs’ bad assets have been zooming for quite some time; growing incidents of fraud added to their woes. Against this backdrop, the clamour for privatization has been getting louder and analysts are busy calculating how much and how fast the share of PSBs in banking assets will get eroded. And, of course, almost everybody has been discussing corporate governance, or the lack of it, in the PSBs, which roughly have a 70% market share.