The Prime Minister's Office is keen to champion fast-track reforms in public sector banks to lift the overhang of rising bad loans that make it a challenge to re-start the investment cycle and pose a fiscal headache for the government on account of banks' capital infusion requirements. At the same time, the PMO is looking to overhaul and strengthen government-owned banks' governance structures at the earliest so that the problem of bad loans doesn't return with the next cyclical downturn. The Modi government could take a cue or two from private banks whose management and credit appraisal structures have helped them contain the rising tide of non-performing assets that have accompanied India's slowing economy in recent quarters, ..........
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