The nation has to debate whether corporate governance is compatible with the present form of public sector institutions which are very much under political control, according to Reserve Bank of India (RBI) governor Bimal Jalan.
Speaking on the occasion of the annual day of the National Institute of Bank Management (NIBM) here, the RBI governor said public ownership in its present form makes the heads of the institutions accountable to political institutions such as the government and not to economic institutions such as the board of directors.
He, however, declined to express his own view on the debate. Jalan added:
