ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Tarnished Jubilee

THE balance sheet of 25 years of bank nationalisation undoubtedly provides a telling lesson; the changes in the financial system, however revolutionary, are not very effective when the economic environment is inherently unbalanced and unequal, both regionally and functionally, and when structural changes in the real economy are not geared to correcting those imbalances and inequalities in an effective manner. Even so, what has been achieved under the public sector dispensation in commercial banking in particular and in the financial system generally, even in the midst of structural disabilities of the Indian economy, is commendable. While this progress has brought in its trail manifold problems

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