 "N K Singh, chairman of the 15th Finance Commission")
The Fifteenth Finance Commission is in discussions with the Centre and the Reserve Bank of India on the issue of bank recapitalisation, Commission Chairman N K Singh said on Monday.
The banking sector needs to open up to the same levels of ‘liberalisation process’ which other sectors have witnessed, Singh said.
“We need to have a far more decisive and significant banking recapitalisation plan. I think that over the next five years a huge public outlay will be needed to keep state-owned banks properly and adequately capitalised,” Singh said at an event organised by the All India Management Association. “The Commission is
