...........Many ideas are possible, but innovative thinking must start at the finance ministry – which has been unwilling to let go of its control of banks. Chidambaram himself may be happy to privatise a few public sector banks, but his government is a dyed-in-the-wool believer in public ownership. Like the CBI, our public sector banks are “caged parrots” answerable to different masters – politicians, the RBI, investors, and North Block, among others. Little wonder, there is little innovation.
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