Privatize public sector banks to prevent future Nirav Modis
This is a good time for the government to reverse the bank nationalization policy by selling the government stake in public sector banks and exiting the business
The latest scandal involving Punjab National Bank (PNB) and jeweller Nirav Modi is the newest symptom of an old malady—the government owning and running banks in India. PNB is not the first public sector bank (PSB) to lend into a hole, and it certainly won’t be the last.
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