ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Can Indradhanush Help Revive Public Sector Banks?

Indradhanush, the government's new plan for public sector bank reform in India, may not be the "big bang" reforms that many have been clamouring for. But the government has decided to recapitalise PSBs--a sensible change of mind. India's recapitalisation cost since the mid-1990s must be amongst the lowest worldwide, and it has helped prevent a banking crisis. Other proposed reforms in Indradhanush follow the framework put forth by the P J Nayak Committee, but fall far short of the paradigm shift policies proposed therein.

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