Accept it or not, privatisation is on

The writing on the wall says privatisation of banking is inevitable; how it is done is a matter of academic interest

Sometime in March 2018, Nandan Nilekani, co-founder and chairman of Infosys Ltd and founding chairman of the Unique Identification Authority of India (Aadhaar), had said the pace at which public sector banks (PSBs) were losing business had increased and that 10 years from now, they would hold 10 per cent market share. 

Around the same time, Uday Kotak, executive vice-chairman and managing director of Kotak Mahindra Bank Ltd, had said that private sector banks’ market share would go up significantly and equal that of public sector banks in the next five years. “The 70-30 ratio of public and private banks