Many state-owned banks exist because of the state, says Rajnish Kumar

They all default and sit in the front rows of the industry associations: Rajnish Kumar

In an interview to a leading daily, State Bank of India (SBI) Chairman Rajnish Kumar (pictured) hit back at critics of state-run enterprises and their calls for privatising the state-run banks. He said almost all bad loans and poor governance standards cases were from the private sector, “They all default and sit in the front rows of the industry associations. That is the reality today,'' he said. 

Business Standard pulled out the key financials of the listed public sector ones and found for many loss-making banks, the capital infusion in the last five years was almost equal to their accumulated losses. 

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