Will the next FM rise to the challenge?

............As the banking system is the backbone of the economy, the government will have to recapitalise state-owned banks adequately and make sure their stressed assets come down. Their needs are assessed at Rs 5 lakh crore by 2019. As the government cannot meet the financial needs of the banks from its budgetary resources, the finance ministry is evaluating options such as a special purpose vehicle, a holding company and employee stock options. It should consider the report of an RBI panel which talks of divesting stakes in state-owned banks to less than 50 per cent. It may also look at consolidation of public sector banks which UPA could not do. To achieve economies of scale, it is imperative and bank unions should be taken into confidence..........

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