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
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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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 | Jaitley rules out privatisation of public sector banks    </title>
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Finance Minister Arun Jaitley today ruled out privatisation of public sector banks as a response to the Rs 11,400-crore fraud hitting Punjab National Bank, saying the move may not be politically acceptable. Speaking at an event, he said a lot..."/>
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Finance Minister Arun Jaitley today ruled out privatisation of public sector banks as a response to the Rs 11,400-crore fraud hitting Punjab National Bank, saying the move may not be politically acceptable. Speaking at an event, he said a lot..." />
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                            <div align="justify">-PTI<br /><br />Finance Minister Arun Jaitley today ruled out privatisation of public sector banks as a response to the Rs 11,400-crore fraud hitting Punjab National Bank, saying the move may not be politically acceptable. Speaking at an event, he said a lot of people have started talking of privatisation in the aftermath of the PNB fraud.<br /><br />&ldquo;This (privatisation) involves a large political consensus. Also, that involves an amendment to the law (Banking Regulation Act). My impression is that Indian political opinion may not find favour with this idea itself. It&rsquo;s a very challenging decision,&rdquo; he said.<br /><br />On Friday, FICCI president Rashesh Shah said that he met the finance minister and asked him to begin the process of bank privatisation in a phased manner, leaving just 2-3 lenders in the public sector. The call for privatisation gathered currency after diamond jeweller Nirav Modi allegedly colluded with some officials of PNB to fraudulently obtain guarantees so as to avail of loans from Indian banks overseas.<br /><br />Industry body Assocham has also urged the government to reduce its stake in public sector banks to less than 50 per cent so that they can work with the sense of accountability and with the interest of stakeholders and depositors on priority.<br /><br />Please <a href="https://www.thehindubusinessline.com/money-and-banking/arun-jaitley-rules-out-privatisation-on-public-sector-banks/article22844057.ece?homepage=true" title="https://www.thehindubusinessline.com/money-and-banking/arun-jaitley-rules-out-privatisation-on-public-sector-banks/article22844057.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-PTI<br /><br />Finance Minister Arun Jaitley today ruled out privatisation of public sector banks as a response to the Rs 11,400-crore fraud hitting Punjab National Bank, saying the move may not be politically acceptable. Speaking at an event, he said a lot of people have started talking of privatisation in the aftermath of the PNB fraud.<br /><br />&ldquo;This (privatisation) involves a large political consensus. Also, that involves an amendment to the law (Banking Regulation Act). My impression is that Indian political opinion may not find favour with this idea itself. It&rsquo;s a very challenging decision,&rdquo; he said.<br /><br />On Friday, FICCI president Rashesh Shah said that he met the finance minister and asked him to begin the process of bank privatisation in a phased manner, leaving just 2-3 lenders in the public sector. The call for privatisation gathered currency after diamond jeweller Nirav Modi allegedly colluded with some officials of PNB to fraudulently obtain guarantees so as to avail of loans from Indian banks overseas.<br /><br />Industry body Assocham has also urged the government to reduce its stake in public sector banks to less than 50 per cent so that they can work with the sense of accountability and with the interest of stakeholders and depositors on priority.<br /><br />Please <a href="https://www.thehindubusinessline.com/money-and-banking/arun-jaitley-rules-out-privatisation-on-public-sector-banks/article22844057.ece?homepage=true" title="https://www.thehindubusinessline.com/money-and-banking/arun-jaitley-rules-out-privatisation-on-public-sector-banks/article22844057.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-PTI<br /><br />Finance Minister Arun Jaitley today ruled out privatisation of public sector banks as a response to the Rs 11,400-crore fraud hitting Punjab National Bank, saying the move may not be politically acceptable. Speaking at an event, he said a lot of people have started talking of privatisation in the aftermath of the PNB fraud.<br /><br />&ldquo;This (privatisation) involves a large political consensus. Also, that involves an amendment to the law (Banking Regulation Act). My impression is that Indian political opinion may not find favour with this idea itself. It&rsquo;s a very challenging decision,&rdquo; he said.<br /><br />On Friday, FICCI president Rashesh Shah said that he met the finance minister and asked him to begin the process of bank privatisation in a phased manner, leaving just 2-3 lenders in the public sector. The call for privatisation gathered currency after diamond jeweller Nirav Modi allegedly colluded with some officials of PNB to fraudulently obtain guarantees so as to avail of loans from Indian banks overseas.<br /><br />Industry body Assocham has also urged the government to reduce its stake in public sector banks to less than 50 per cent so that they can work with the sense of accountability and with the interest of stakeholders and depositors on priority.<br /><br />Please <a href="https://www.thehindubusinessline.com/money-and-banking/arun-jaitley-rules-out-privatisation-on-public-sector-banks/article22844057.ece?homepage=true" title="https://www.thehindubusinessline.com/money-and-banking/arun-jaitley-rules-out-privatisation-on-public-sector-banks/article22844057.ece?homepage=true">click here</a> to read more. <br /></div>                                                           
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Home हिन्दी

Jaitley rules out privatisation of public sector banks

Published on Feb 25, 2018   Modified on Feb 25, 2018

-PTI Finance Minister Arun Jaitley today ruled out privatisation of public sector banks as a response to the Rs 11,400-crore fraud hitting Punjab National Bank, saying the move may not be politically acceptable. Speaking at an event, he said a lot of people have started talking of privatisation in the aftermath of the PNB fraud. “This (privatisation) involves a large political consensus. Also, that involves an amendment to the law (Banking Regulation Act). My impression is that Indian political opinion may not find favour with this idea itself. It’s a very challenging decision,” he said. On Friday, FICCI president Rashesh Shah said that he met the finance minister and asked him to begin the process of bank privatisation in a phased manner, leaving just 2-3 lenders in the public sector. The call for privatisation gathered currency after diamond jeweller Nirav Modi allegedly colluded with some officials of PNB to fraudulently obtain guarantees so as to avail of loans from Indian banks overseas. Industry body Assocham has also urged the government to reduce its stake in public sector banks to less than 50 per cent so that they can work with the sense of accountability and with the interest of stakeholders and depositors on priority. Please click here to read more.

The Hindu Business Line, 24 February, 2018, https://www.thehindubusinessline.com/money-and-banking/arun-jaitley-rules-out-privatisation-on-public-sector-banks/article22844057.ece?homepage=true

Tagged with: Loan Default ficci Privatisation of Public Sector Banks banking

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