Criticizing the people advocating privatization of the Public Sector Banks, Meera Nangia, Prof of Commerce, Delhi University, remarked, “We need to talk about Corporate Accountability and not just the accountability of Public Sector Banks.” We are not questioning the work ethics of corporates and the lending practices being followed by the banks. The clause of limited liability is allowing the owners to amass wealth, she added.

Prof Nangia was speaking at the public meeting titled ‘Crisis in the Banking Sector: Who Stole? Who Pays?,’ which was organized in the wake of recent PNB fraud, rising NPAs, and the crisis being faced by the Public Sector Banks in general.

Help us in
* Demystifying finance to common people
* Making financial institutions transparent and accountable
* Spreading financial literacy programmes

3 Comments, RSS

  • Sunanda Sen

    says on:
    March 30, 2018 at 5:34 pm

    A note titled “Who robs India’s Banks?” in The Wire March 16, 2018

    • CFA

      says on:
      April 6, 2018 at 3:35 pm

      Thank you, Prof. Sen, for raising important points on the unprecedented recurrences of fraudulent activities in the financial sector, break-down of prevailing legal safeguards, and the knee-jerk reaction of the elected government in India.

  • Sunanda Sen

    says on:
    April 29, 2018 at 11:20 am

    Thanks for putting up the link

Your email address will not be published. Required fields are marked *