Banks in the Balance

Banks in the Balance THERE has been much talk of nationalisation of banks' or, to use the euphemism so common these days,; social control of banks. Neither the term "nationalisation" nor "social control" has been defined and it was left to V C Patel, General Manager of the Central Bank of India, to demand that the Gov, ernment should let bankers know what was wanted of them by way of fulfilling their social obligation. He urged the appointment of a Banking Inquiry Commission to report on the working of banks and on whether nationalisation of banks was necessary.