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    Is a reversal of bank nationalisation on the cards

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    Is a reversal of bank nationalisation on the cards

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    Is a reversal of bank nationalisation on the cards

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    Is a reversal of bank nationalisation

    on the cards?

    Calls for privatisation have grown louder just as public sector banks clean
    up their balance sheets.

    Published : Jan 26, 2023 10:25 IST

    C.P. Chandrasekhar

    An eminent economist, he taught for more than three decades at JNU’s Centre for Economic Studies and
    Planning.

    COMMents 1

    SHARE

    READ LATER
    Punjab National Bank became the second-largest public sector bank in the country after the
    government announced that it would merge Oriental Bank of Commerce (OBC) and United Bank
    of India with it, in 2020. | Photo Credit: KAMAL NARANG

    The semi-annual Financial Stability Report from the Reserve Bank of India
    signals that the country’s banking system, especially the public banking
    system, has put behind it the stress from disturbingly high non-performing or
    bad loans on its books.

    The story, as officially told, is now familiar. As a result of “aggressive


    lending practices” and “wilful default/loan frauds/corruption in some cases”,
    stressed assets in the banking system rose sharply along with a rise in
    aggregate gross advances of public sector banks, from Rs.16,98,570 crore at
    the end of March 2008 to Rs.45,90,570 crore at the end of March 2014.

    Since this is routinely stated in answers to questions in Parliament, the choice


    of end date—just ahead of the installation of the first Narendra Modi
    government—does seem convenient. But it is also justified because the RBI’s
    decision to mandate an asset quality review to address massive
    underreporting of non-performing assets (NPAs) was taken in 2015.
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