Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Economists Hit Out Against Move to Privatise Public Sector Banks    </title>
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-TheCitizen.in

Banking needs reforms not privatisation

NEW DELHI: The scale of the recent bank scams and the potential losses faced by banks holding non-performing loans given to some large companies and individuals, has shocked all of us.

However, we are concerned to note..."/>
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-TheCitizen.in

Banking needs reforms not privatisation

NEW DELHI: The scale of the recent bank scams and the potential losses faced by banks holding non-performing loans given to some large companies and individuals, has shocked all of us.

However, we are concerned to note..." />
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                            <div align="justify">-TheCitizen.in<br /><br /><em>Banking needs reforms not privatisation<br /><br />NEW DELHI: </em>The scale of the recent bank scams and the potential losses faced by banks holding non-performing loans given to some large companies and individuals, has shocked all of us.<br /><br />However, we are concerned to note that this has become an excuse to demand the privatisation of publicly held banks.<br /><br />While it is true that the current scam involves Punjab National Bank, the second largest public sector bank, the basic cause is very clearly the inadequate and faulty regulation and monitoring of the banking sector. This affects all banks, regardless of ownership.<br /><br />But in a curious turn, fraud that was led by and benefited private players pursuing super-profits at any cost is being made the reason for handing control of the nation's savings to the private sector.<br /><br />Poorly regulated private banks are even more prone to scams and failure, as the financial sector is rife with information asymmetries and market imperfections.<br /><br />Private profit orientation generates incentives for managements to exploit loopholes in rules and engage in risky behaviour, as shown by US and European bank behaviour leading to the Great Financial Crisis of 2008-09.<br /><br />The bailouts they then require tend to be even more expensive for the public exchequer, because bank runs have to be prevented.<br /><br />Please <a href="http://www.thecitizen.in/index.php/en/NewsDetail/index/2/13177/Economists-Hit-Out-Against-Move-to-Privatise-Public-Sector-Banks" title="http://www.thecitizen.in/index.php/en/NewsDetail/index/2/13177/Economists-Hit-Out-Against-Move-to-Privatise-Public-Sector-Banks">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-TheCitizen.in<br /><br /><em>Banking needs reforms not privatisation<br /><br />NEW DELHI: </em>The scale of the recent bank scams and the potential losses faced by banks holding non-performing loans given to some large companies and individuals, has shocked all of us.<br /><br />However, we are concerned to note that this has become an excuse to demand the privatisation of publicly held banks.<br /><br />While it is true that the current scam involves Punjab National Bank, the second largest public sector bank, the basic cause is very clearly the inadequate and faulty regulation and monitoring of the banking sector. This affects all banks, regardless of ownership.<br /><br />But in a curious turn, fraud that was led by and benefited private players pursuing super-profits at any cost is being made the reason for handing control of the nation's savings to the private sector.<br /><br />Poorly regulated private banks are even more prone to scams and failure, as the financial sector is rife with information asymmetries and market imperfections.<br /><br />Private profit orientation generates incentives for managements to exploit loopholes in rules and engage in risky behaviour, as shown by US and European bank behaviour leading to the Great Financial Crisis of 2008-09.<br /><br />The bailouts they then require tend to be even more expensive for the public exchequer, because bank runs have to be prevented.<br /><br />Please <a href="http://www.thecitizen.in/index.php/en/NewsDetail/index/2/13177/Economists-Hit-Out-Against-Move-to-Privatise-Public-Sector-Banks" title="http://www.thecitizen.in/index.php/en/NewsDetail/index/2/13177/Economists-Hit-Out-Against-Move-to-Privatise-Public-Sector-Banks">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-TheCitizen.in<br /><br /><em>Banking needs reforms not privatisation<br /><br />NEW DELHI: </em>The scale of the recent bank scams and the potential losses faced by banks holding non-performing loans given to some large companies and individuals, has shocked all of us.<br /><br />However, we are concerned to note that this has become an excuse to demand the privatisation of publicly held banks.<br /><br />While it is true that the current scam involves Punjab National Bank, the second largest public sector bank, the basic cause is very clearly the inadequate and faulty regulation and monitoring of the banking sector. This affects all banks, regardless of ownership.<br /><br />But in a curious turn, fraud that was led by and benefited private players pursuing super-profits at any cost is being made the reason for handing control of the nation's savings to the private sector.<br /><br />Poorly regulated private banks are even more prone to scams and failure, as the financial sector is rife with information asymmetries and market imperfections.<br /><br />Private profit orientation generates incentives for managements to exploit loopholes in rules and engage in risky behaviour, as shown by US and European bank behaviour leading to the Great Financial Crisis of 2008-09.<br /><br />The bailouts they then require tend to be even more expensive for the public exchequer, because bank runs have to be prevented.<br /><br />Please <a href="http://www.thecitizen.in/index.php/en/NewsDetail/index/2/13177/Economists-Hit-Out-Against-Move-to-Privatise-Public-Sector-Banks" title="http://www.thecitizen.in/index.php/en/NewsDetail/index/2/13177/Economists-Hit-Out-Against-Move-to-Privatise-Public-Sector-Banks">click here</a> to read more. <br /></div>                                                           
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Economists Hit Out Against Move to Privatise Public Sector Banks

Published on Mar 4, 2018   Modified on Mar 4, 2018

-TheCitizen.in Banking needs reforms not privatisation NEW DELHI: The scale of the recent bank scams and the potential losses faced by banks holding non-performing loans given to some large companies and individuals, has shocked all of us. However, we are concerned to note that this has become an excuse to demand the privatisation of publicly held banks. While it is true that the current scam involves Punjab National Bank, the second largest public sector bank, the basic cause is very clearly the inadequate and faulty regulation and monitoring of the banking sector. This affects all banks, regardless of ownership. But in a curious turn, fraud that was led by and benefited private players pursuing super-profits at any cost is being made the reason for handing control of the nation's savings to the private sector. Poorly regulated private banks are even more prone to scams and failure, as the financial sector is rife with information asymmetries and market imperfections. Private profit orientation generates incentives for managements to exploit loopholes in rules and engage in risky behaviour, as shown by US and European bank behaviour leading to the Great Financial Crisis of 2008-09. The bailouts they then require tend to be even more expensive for the public exchequer, because bank runs have to be prevented. Please click here to read more.

TheCitizen.in, 3 March, 2018, http://www.thecitizen.in/index.php/en/NewsDetail/index/2/13177/Economists-Hit-Out-Against-Move-to-Privatise-Public-Sector-Banks

Tagged with: Banking Reforms Privatisation of Public Sector Banks

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