 "Y V Reddy")
Former Reserve Bank of India (RBI) governor Y V Reddy on Friday praised the government’s Rs 2.11-lakh crore recapitalisation plan for public sector banks.
He, however, said it could have been through rights issue keeping in mind other shareholders as well.
“When you are providing equity, you are doing it along with other owners of the bank. So technically you should give an option. If they don’t pick up the shares, you take it. The whole idea is that you are going through a process that is more market-oriented,” he said.
On bonds, Reddy said those issued in the 1990s were more haphazard as
