Who wants public sector bank reforms, anyway?

The massive bad loans reflect a breakdown of basic banking

Every few months, our public sector banks (PSBs) are in the news. One kind of news is about their huge losses. Some Rs 5 billion here or Rs 10 billion there quarterly loss is the new normal. The second kind of news is when a major scam or an egregious case of bad lending stuns the nation. For instance, a Rs 50-billion scam where the high-profile promoter of Winsome Diamonds disappears after a carefully planned swindle or a Rs 127-billion scam where jeweller Nirav Modi and his uncle Mehul Choksi go absconding. A third kind of news is generated as