The roadmap for real banking reforms
After a major rejig in corporate tax, there is scope for transformative banking reform too. Here’s a template
The move to merge 10 public sector banks (PSBs) into four large banks has been touted over the past three weeks as a banking sector reform, based on the recommendations of the Narasimham Committee report (1991). The Narasimham Committee recommendations were forward-looking and are still relevant. But if we examine the recommendations to see which of these have been effectively implemented, a pattern emerges.