Bank recapitalization is waste of money

Child marriage is a social evil, so it should be eradicated. But what if everybody seeks to preserve it? It’s tradition, after all, a few say; suppose everybody else starts following them. So, instead of doing away with the practice whose ill effects are widely recognized and well-documented, the entire system goes on to make it less painful for the bride, the groom, and society. The Narendra Modi government’s announcement that Rs 211,000 crore would be infused into public sector banks (PSBs) over the next two years is a similar solution. Instead of doing away with the evil—that is, state ownership of banks—the government is desperately trying to mitigate its worst effects.

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