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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (7521)10/1/1999 12:19:00 PM
From: Shivram Hala  Read Replies (1) of 12475
 
Finance Minister favours privatisation of banks

Source : MI
Oct 1, 1999, 8:53:09 AM
> The finance minister recently joined those who are > chorusing for privatisation by stating that he favours > divesting government stake below 50% in all banks except > for the State Bank of India.

Bull!!! These banks have had total access to develop competition. It's time all the banks were privatised and the proceeds from that put in an industrial/home/agriculture/..../development agency so that it can used in infrastructure development. Banks today are nothing but bloated bureaucracies. Smaller banks such as karur vysya, andhra bank,punjan national, ... are doing much much better and providing much better service, flexibility and access.

So too with the Insurance Industry.
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