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How financial reforms can quicken pace for India to become a $5-trn economy

In the Union Budget for FY22, no funds were earmarked for recapitalising state-run banks. This was a decadal first, and will temper their eagerness to lend

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If a recession is looming on the horizon plus inflationary concerns, it would be reasonable to assume that we may be heading for a period of caution. | Illustration: Ajay Mohanty

Raghu Mohan

7 min read Last Updated : Jan 01 2023 | 7:27 PM IST

Road map on bank privatisation

Fiscal year 2023-24 (FY24) may see us get more clarity on the privatisation of state-run banks and the finer aspects of the scope and role assigned to private capital in the process. The government had proposed privatisation of two such banks (along with one general insurance company) in the Union Budget for FY22. But so far, the sale of IDBI Bank is yet to go through even as the second bank is yet to be identified.

A wider public debate may also be in the offing.

In August 2022, a paper by Snehal S Herwadkar, Sonali Goel and

Topics : Reserve Bank of India Indian Banks State run banks Banks privatisation Green financing HDFC Bank Indian Accounting Standards Non-performing Asset Bank NPAs MDR RuPay UPI Digital Payments

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