Are public sector banks (PSBs) important for the economy? Have the PSBs served the purpose for which they were created? Could the PSBs compete efficiently against the private sector banks (PVBs)? These are some of the questions, which have been answered by a chapter in the RBI Bulletin's August edition. Efficiency of PSBs Co-authored by Snehal S Herwadkar, Sonali Goel, and Rishuka Bansal (2022) of the Banking Research Division, Reserve Bank of...
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RBI Bulletin: A big bang approach to PSB privatisation may do more harm than good
-Moneycontrol.com The study also suggests that market confidence tends to be in favour of PSBs in terms of crisis. The latest Reserve Bank of India (RBI) bulletin published on August 18 suggests that a big bang approach to privatisation of government-owned banks may do more harm than good. A paper published in the bulletin analyses various pros and cons of privatisation and identifies how an emerging economy like India may face more challenges...
More »Divestment goal achievable; LIC IPO to fetch ₹1 lakh crore: CEA
-PTI/ The Hindu Inflation targeting helped in lowering volatility, level of inflation, he says Asserting that the disinvestment target of ₹1.75 lakh crore for 2021-22 was ‘eminently achievable,’ Chief Economic Adviser (CEA) K. V. Subramanian on Saturday said the proposed initial public offering (IPO) by LIC itself could garner ₹1 lakh crore for the government. He also said targeting of retail inflation by the Reserve Bank of India (RBI) has helped bring down...
More »Why privatising public assets is poor economics, impetus to greater wealth inequality -Prabhat Patnaik
-The Indian Express The only difference between a fiscal deficit and selling public assets lies in the nature of the government paper that is handed to the private sector, but the macroeconomic consequences of a fiscal deficit on the economy are no different from those of selling public assets. The government has adduced no reasons for the proposed privatisation of several public sector assets other than to generate resources for its spending....
More »Union Finance Minister Nirmala Sitharaman interviewed by Raghuvir Srinivasan, Aarati Krishnan and Parvatha Vardhini C (The Hindu Business Line)
-The Hindu No decision taken yet on which banks will be privatised, Finance Minister says. Fresh from presenting a Budget that represents a clean break from past policies, Union Finance Minister Nirmala Sitharaman was in Chennai last weekend to hear feedback from industrialists and common citizens. “This is a Budget that was put through the wringer to ensure that every number was credible and achievable and did not reflect over-ambition,” she said,...
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