Reforming India’s banks - Renu Kohli

.....the political privileges from public ownership of banks are far too many for any drastic change in ownership and control. Shareholding beyond 5% will require RBI’s sanction; the regulator can be trusted to ensure no single group or entity gets excessive control. Likewise, foreign domination concerns are overdone: Lessons learnt from the crisis—many foreign banks with significant presence in some countries suspended lending as their parents shrank balance sheets, exacerbating a credit squeeze—are well internalized by a cautious RBI. The proposed reforms will only contribute to the betterment of banks.

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