Banks Ultimately Need Autonomy

  • Banks, it is often said, are the fulcrum of a robust economy. The banking scene in India, however, presents an absolutely scary picture.
  • A meaningful fix can happen only if banks are given functional autonomy at various levels.
  • Restricted freedom inevitably leads to a blame game, making it even more difficult to fix responsibility.
  • It is not just about how much money the Central government will freshly pump into stressed banks. It is about its ability and capacity to let go of control.’