Bank Privatisation News: RBI Governor Shaktikanta Das has said that the role of RBI is neutral regarding the ownership of banks being the regulator of the banking sector. He said that it depends on the owners of the banks, how much shareholding they want to keep with them. How much do you want to give to others or do you want to give to the public. But the role of RBI is neutral regarding the ownership of banks.
According to media reports, the RBI Governor said that being the regulator of the banking sector, we have prepared regulatory guidelines and we have to ensure that these guidelines are followed properly and the banking sector functions properly. Banks are strong, they are well capitalised, banks should be strong on financial parameters. So we are neutral on the ownership of banks.
In fact, last week, an article was published in the RBI bulletin on the government’s decision to privatize state-run banks, questioning privatization. RBI wrote in its article that large-scale privatization of public sector banks may cause more harm than benefit. The Reserve Bank of India (RBI) in one of its articles has cautioned the government to proceed carefully in this matter. An article published in the RBI Bulletin said that private sector banks have been successful in making more profits, they are also efficient in this while public sector banks have done better in promoting financial inclusion.
However, after this article came to the fore, the RBI had to clarify. RBI has said that some of the views expressed clearly in the article are the personal views of the author, not RBI. RBI said that in the press release issued regarding the August 2022 bulletin, it has been said that the decision of privatization is also being taken slowly by the government to ensure that there is no void in achieving the social objective of financial inclusion.
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