Not a good idea

Back in 1969, the controversial nationalization of fourteen private banks was a political move clothed in socialist mumbo- jumbo. Apologists of Indira Gandhi argued that these banks serviced big business while failing to meet the needs of the ~ aam aadmi~. Her Congress rival at the time, Morarji Desai, had opposed nationalization, saying the above objective could be well served through the RBI- monitored ` social control' of the same banks. Mrs Gandhi had her way. Fourteen large private sector banks were taken over. If nearly forty- four years later, the state of the banking in the country continues to be rather poor, you know whom to blame. Playing partisan politics with financial institutions does not pay.........

Read - FPJ