Privatisation only solution to improve public banks

‘Tis a lesson you should heed:/Try, try, try again./If at first you don’t succeed,/Try, try, try again—so goes the inspirational poem. Government after government has followed this while dealing with public sector banks (PSBs). Except that there is little poetic about the exercise, many versions of which have already cost the taxpayers lakhs of crores of rupees; they will continue to pay for politicians and policymakers who don’t want to lose control over PSBs. And the Vijay Mallyas and Nirav Modis will be pampered at the expense of the public exchequer.

Read the full article: