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Decade in review: How state-owned banks rose to the occasion amid crisis

At the start of the decade, the government was busy infusing stimulus packages to revive various sectors affected by the global credit crisis

Public sector banks
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Illustration by Binay Sinha

Anup Roy Mumbai
The banking sector was the fulcrum of the economic agenda of the government in the past decade. It was one in which the state-owned banks rose up to the occasion, even in the face of drastic changes in their operating environment.

From 23 new bank licences to bank mergers, currency crisis-led surge in dollar deposits to demonetisation, massive frauds to digitisation, bank board governance reforms to departure of high-profile private bank chiefs, from record bad debts to the Insolvency and Bankruptcy Code (IBC), this decade has inarguably remained the most eventful for the banking industry ever — perhaps even more

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First Published: Dec 30 2019 | 9:03 PM IST

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