Industry chambers for privatisation of PSBs, Congress against idea

A chorus has grown among industry chambers for privatisation of public sector banks (PSBs), in the wake of the Rs 110-billion fraud in Punjab National Bank (PNB).
 

The Federation of Indian Chambers of Commerce and Industry (Ficci) said the government should consider privatising these banks (PSBs) as more than Rs 2.6 trillion capital infusion in the 11 years has had limited impact in improving their health. Privatisation would reduce the drain on the exchequer, the chamber said.

Ficci President Rashesh Shah argued a dynamic banking sector was the need of the hour. The Associated Chambers of Commerce and Indhustry of India