 "RBI")
Bank trade unions have taken to the streets, protesting privatisation of two public sector banks (PSBs).
In May 2014, just a fortnight before the Bharatiya Janata Party-led National Democratic Alliance (NDA) government took over, a committee of the Reserve Bank of India (RBI), headed by P J Nayak, recommended incorporation of a bank investment company to take the PSBs out of direct government ownership. A few legislative changes were required for setting up such a company. Now, those legislative changes will be done to privatise two PSBs. Finance Minister Nirmala Sitharaman has already crossed the Rubicon. The public sector banking
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