........With 70% of banks in the country being state-owned, the RBI has often voiced its concern over the government's constraints in helping banks meet higher capital buffers. The Indian economy runs a yawning fiscal deficit, projected at 5.1% of gross domestic product in the year ending March 2013. Besides, there is competing demand for federal resources. "So, the alternatives available to the government are either to reduce their shareholding to below 50% and admit that they will change the public sector banking structure or restrict the expansion of the public sector banks," Mr. Subbarao said at an event in the eastern Indian city of Hyderabad..........
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