Banks on the run

Print edition : April 01, 2016

Jayant Sinha (right), Minister of State for Finance, with Raghuram Rajan, RBI Governor, at the Gyan Sangam , at Gurgaon on March 4. Photo: Kamal Narang

Employees of IDBI Bank participating in a one-day nationwide strike against the move to privatise the bank, in Visakhapatnam on November 27, 2015. Photo: C.V. Subrahmanyam

Liquor baron Vijay Mallya, who has flown out of the country. Photo: VIVEK PRAKASH/Reuters

By refusing to make a significant commitment to recapitalise public sector banks, the government refuses to accept its own responsibility in causing the build-up of stressed assets in them. Instead, it sees in the crisis an opportunity to further its privatisation agenda.
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