............The panel, headed by ex-Chairman of Axis Bank, P. J. Nayak, said governance at the 26 public sector banks (PSBs) suffered due to several ‘externally imposed constraints’ like dual regulation by the RBI and the Finance Ministry, and external vigilance by agencies such as the CVC and CAG, among others. “If the government stake in these banks were to reduce to less than 50 per cent, together with certain other executive measures, all these external constraints would disappear,” the report says............
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