BIHAR-Roots of Violence

Very Unlevel WHEN the Committee on Reform of the Financial System, headed by M Nara- simham, recommends that the Reserve Bank should follow a more liberal policy in allowing foreign banks to open branches and subsidiaries and enter into joint ventures with Indian banks for specialised financial services such as merchant banking and other newer types of financial services, it does show an awareness that the playing field was not quite level and that the balance of advantage lay in favour of the foreign banks. This awareness is reflected in its stipulation that the foreign bank would have to conform to the same requirements as Indian banks, But would a stipulation like this be enough? Haven't the foreign banks, already in India, shown clearly that with all the restrictions currently extant on their operations, they know, or have learnt, to manage and do well?