..............There is also a new theme which is being proposed which would introduce a new order of banking. We are now emphasizing separating the ownership of the banking system from the management. This is a very commendable initiative but its ramifications have to be well evaluated. If we accept the premise that public sector banking enjoys the confidence of the deposit holders arising out of the implicit sovereign guarantee, then its withdrawal would have larger implications in the deposit base of the entities. It would certainly bring about a very level playing field for private sector banking but will have its own cost and consequences............
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