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CAG writes to RBI on banks' status post-recap over the past 5 years

Wants RBI to give performance details over the past five years

bank recapitalisation, psu banks

The CAG’s communiqué to the RBI ahead of the 2021-22 Budget also puts the spotlight on the latter’s supervisory architecture

Raghu Mohan Mumbai
The Comptroller and Auditor General of India (CAG) has written to the Reserve Bank of India (RBI), seeking details of the performance of state-run banks after their recapitalisation (recap) over the past five years. The CAG has also requested it to share the details of a study, if any, with the government.

“This (development) should be seen in the context of the opportunity cost of state-run banks’ recap, given the limited fiscal space available,” said a source, adding, “It’s probably part of the steps towards sizing the true value of these banks ahead of privatisation and bringing uniformity in the standards

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First Published: Dec 28 2020 | 6:10 AM IST

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