........The key shift that needs to be made is in the relationship of the government with the public sector banks. Till now, government control, especially through the finance ministry, has been complete with the banks being used to achieve objectives of state policy. This “government-as-sovereign” role has deeply politicized governance in these banks. Directors on the board are appointed either in keeping with anachronistic provisions of laws such as the Banking Regulations Act, 1949 or through political interference. As a result, ............
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