Budget Proposals on Public Sector Banks

Government, it appears, does not wish to disturb the ownership pattern of the public sector banks. In that event it has to show the political will to build upon the foundations of the existing public sector banks and purge them of their institutional debilities. The finance minister should have made it clear that the interests of the employees and of the incumbent managements can be safeguarded only within the boundary limits of what the bank and the system can absorb, that is, without eroding the rights of the other stakeholders.